Foot Locker Inc. [FL] stock Downgrade by Cowen analyst, price target now $34

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Foot Locker Inc. [NYSE: FL] plunged by -$0.08 during the normal trading session on Wednesday and reaching a high of $25.195 during the day while it closed the day at $25.02. The company report on June 27, 2022 that BSN SPORTS Acquires the Eastbay Team Sales Business from Foot Locker Retail, Inc.


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BSN SPORTS, one of the largest direct marketers and distributors of sporting goods, footwear, apparel and branding to the school and league markets and a division of Varsity Brands, today announced that it has entered into an agreement to acquire substantially all of the assets of the Eastbay Team Sales business (“Eastbay Team Sales”) from Foot Locker Retail, Inc., a subsidiary of Foot Locker, Inc. (NYSE: FL).

Founded in 1980 and originally established to meet the performance needs of local high school and college athletes in Central Wisconsin, Eastbay Team Sales is now a leading supplier of athletic footwear, apparel and sports equipment to high school and college athletes. Foot Locker, Inc. acquired Eastbay Team Sales through its acquisition of Eastbay in 1997 to integrate an additional channel of distribution for athletic footwear, apparel, and equipment.

Foot Locker Inc. stock has also gained 2.00% of its value over the past 7 days. However, FL stock has declined by -14.40% in the 3 months of the year. Over the past six months meanwhile, it has lost -40.40% and lost -42.65% year-on date.

The market cap for FL stock reached $2.34 billion, with 96.10 million shares outstanding and 92.96 million shares in the current float. Compared to the average trading volume of 2.79M shares, FL reached a trading volume of 2782790 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $31.26 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 3.00. 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.

Cowen have made an estimate for Foot Locker Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on March 28, 2022. The new note on the price target was released on March 09, 2022, representing the official price target for Foot Locker Inc. stock. Previously, the target price had yet another drop from $63 to $35, while Goldman kept a Neutral rating on FL stock. On March 01, 2022, analysts decreased their price target for FL shares from 58 to 24.

The Average True Range (ATR) for Foot Locker Inc. is set at 1.15, with the Price to Sales ratio for FL stock in the period of the last 12 months amounting to 0.26. The Price to Book ratio for the last quarter was 0.75, with the Price to Cash per share for the same quarter was set at 5.90.

FL stock trade performance evaluation

Foot Locker Inc. [FL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.00. With this latest performance, FL shares dropped by -15.96% in over the last four-week period, additionally sinking by -40.40% over the last 6 months – not to mention a drop of -59.16% 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 36.47, with the RSI for the last a single of trading hit 35.06, and the three-weeks RSI is set at 38.32 for Foot Locker Inc. [FL]. The present Moving Average for the last 50 days of trading for this stock 29.25, while it was recorded at 25.16 for the last single week of trading, and 38.29 for the last 200 days.

Foot Locker Inc. [FL]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Foot Locker Inc. [FL] shares currently have an operating margin of +11.52 and a Gross Margin at +32.18. Foot Locker Inc.’s Net Margin is presently recorded at +9.97.

Return on Equity for this stock inclined to 29.72, with Return on Assets sitting at 11.77.

Foot Locker Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 1.40.

Earnings per share (EPS) analysis for Foot Locker Inc. [FL] stock

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 35.86%.

Foot Locker Inc. [FL]: Insider Ownership positions

There are presently around $2,163 million, or 93.40% 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 12,750,317, which is approximately 0% of the company’s market cap and around 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 10,282,149 shares of the stock with an approximate value of $258.08 million in FL stocks shares; and FMR LLC, currently with $256.84 million in FL stock with ownership of nearly 18.775% of the company’s market capitalization.

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 180 institutional holders increased their position in Foot Locker Inc. [NYSE:FL] by around 11,544,072 shares. Additionally, 206 investors decreased positions by around 16,964,569 shares, while 46 investors held positions by with 57,662,877 shares. The mentioned changes placed institutional holdings at 86,171,518 shares, according to the latest SEC report filing. FL stock had 56 new institutional investments in for a total of 2,343,573 shares, while 98 institutional investors sold positions of 6,603,553 shares during the same period.

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