Foot Locker (FL) is Reiterated by Telsey Advisory Group to Outperform, Raises Price Target to $ 78

Foot Locker (FL) was Reiterated by Telsey Advisory Group to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 78 from a previous price target of $72 . Telsey Advisory Group advised their investors in a research report released on Aug 22, 2016.

Many Wall Street Analysts have commented on Foot Locker. Susquehanna Initiated Foot Locker on Aug 12, 2016 to “Positive”, Price Target of the shares are set at $73.

On the company’s financial health, Foot Locker reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 19, 2016. Analyst had a consensus of $0.90. The company had revenue of $1780.00 million for the quarter, compared to analysts expectations of $1762.64 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.

Foot Locker opened for trading at $64.58 and hit $69 on the upside on Friday, eventually ending the session at $68.49, with a gain of 11.04% or 6.81 points. The heightened volatility saw the trading volume jump to 1,18,39,703 shares. Company has a market cap of $9,267 M.

In a different news, on Jul 11, 2016, Jarobin Jr Gilbert (director) sold 1,000 shares at $57.35 per share price. According to the SEC, on Apr 12, 2016, Matthew M Mckenna (director) sold 10,628 shares at $62.35 per share price. On Apr 6, 2016, Giovanna Cipriano (SVP & Chief Accounting Officer) sold 22,000 shares at $62.21 per share price, according to the Form-4 filing with the securities and exchange commission.

Foot Locker Inc. is a retailer of shoes and apparel. The Company operates in two segments: Athletic Stores and Direct-to-Customers. The Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker Lady Foot Locker Kids Foot Locker Champs Sports Footaction and SIX:02 as well as the retail stores of Runners Point Group including Runners Point and Sidestep. The Direct-to-Customers segment includes Inc. and other affiliates including Eastbay Inc. and the direct-to-customer subsidiary of Runners Point Group which sell to customers through their Internet and mobile sites and catalogs. As of January 31 2015 the Company operated 3423 primarily mall-based stores in the United States Canada Europe Australia and New Zealand. As of January 31 2015 the Company operated a total of 78 franchised stores of which 31 are in the Middle East 27 in Germany and Switzerland and 20 in the Republic of Korea.

Foot Locker

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