Goldman slashes price target on Foot Locker Inc. [FL] – find out why.

Foot Locker Inc. [NYSE: FL] gained 0.02% on the last trading session, reaching $56.80 price per share at the time. The company report on May 26, 2021 that Foot Locker and Melody Ehsani Team Up to Launch Exclusive Capsule Collection.

New Creative Director debuts custom capsule collection with ‘No More Next’ virtual festival.

Foot Locker is excited to announce the launch of a basketball-inspired capsule collection designed by the new Creative Director of their women’s business, Melody Ehsani. This is the first of several capsule collections slated to drop this year. In celebration of the launch, Foot Locker will host a virtual festival entitled “No More Next,” inviting fans to take part in a unique digital experience featuring interactive conversations and product sweepstakes.

Foot Locker Inc. represents 103.60 million in outstanding shares, while the company has a total market value of $5.86 billion with the latest information. FL stock price has been found in the range of $56.45 to $58.49.

If compared to the average trading volume of 1.42M shares, FL reached a trading volume of 1936594 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Foot Locker Inc. [FL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FL shares is $70.05 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FL stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Foot Locker Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 22, 2021. While these analysts kept the previous recommendation, Pivotal Research Group raised their target price from $76 to $82. The new note on the price target was released on May 24, 2021, representing the official price target for Foot Locker Inc. stock. Previously, the target price had yet another raise from $61 to $76, while Pivotal Research Group kept a Buy rating on FL stock. On May 17, 2021, analysts increased their price target for FL shares from 56 to 60.

The Average True Range (ATR) for Foot Locker Inc. is set at 2.02, with the Price to Sales ratio for FL stock in the period of the last 12 months amounting to 0.69. The Price to Book ratio for the last quarter was 2.01, with the Price to Cash per share for the same quarter was set at 19.03. Price to Free Cash Flow for FL in the course of the last twelve months was 4.29 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for FL stock

Foot Locker Inc. [FL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.30. With this latest performance, FL shares dropped by -6.16% in over the last four-week period, additionally plugging by 29.56% over the last 6 months – not to mention a rise of 83.40% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FL stock in for the last two-week period is set at 41.63, with the RSI for the last a single of trading hit 39.49, and the three-weeks RSI is set at 43.53 for Foot Locker Inc. [FL]. The present Moving Average for the last 50 days of trading for this stock 60.51, while it was recorded at 57.51 for the last single week of trading, and 51.45 for the last 200 days.

Foot Locker Inc. [FL]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Foot Locker Inc. [FL] shares currently have an operating margin of +5.56 and a Gross Margin at +26.59. Foot Locker Inc.’s Net Margin is presently recorded at +4.28.

Return on Total Capital for FL is now 7.15, given the latest momentum, and Return on Invested Capital for the company is 6.12. Return on Equity for this stock inclined to 12.32, with Return on Assets sitting at 4.74. When it comes to the capital structure of this company, Foot Locker Inc. [FL] has a Total Debt to Total Equity ratio set at 115.08. Additionally, FL Total Debt to Total Capital is recorded at 53.51, with Total Debt to Total Assets ending up at 45.28. Long-Term Debt to Equity for the company is recorded at 90.47, with the Long-Term Debt to Total Capital now at 42.06.

Reflecting on the efficiency of the workforce at the company, Foot Locker Inc. [FL] managed to generate an average of $6,302 per employee. Receivables Turnover for the company is 66.80 with a Total Asset Turnover recorded at a value of 1.11.Foot Locker Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.70.

Foot Locker Inc. [FL]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Foot Locker Inc. go to 34.05%.

An analysis of insider ownership at Foot Locker Inc. [FL]

There are presently around $5,437 million, or 94.60% of FL stock, in the hands of institutional investors. The top three institutional holders of FL stocks are: VESA EQUITY INVESTMENT S.A R.L. with ownership of 12,938,925, which is approximately 0.066% of the company’s market cap and around 1.10% of the total institutional ownership; VANGUARD GROUP INC, holding 9,862,941 shares of the stock with an approximate value of $560.22 million in FL stocks shares; and BLACKROCK INC., currently with $508.61 million in FL stock with ownership of nearly 2.352% of the company’s market capitalization.

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Positions in Foot Locker Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 165 institutional holders increased their position in Foot Locker Inc. [NYSE:FL] by around 8,925,301 shares. Additionally, 204 investors decreased positions by around 7,795,083 shares, while 64 investors held positions by with 79,009,978 shares. The mentioned changes placed institutional holdings at 95,730,362 shares, according to the latest SEC report filing. FL stock had 69 new institutional investments in for a total of 4,690,066 shares, while 49 institutional investors sold positions of 1,500,873 shares during the same period.

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