why Foot Locker Inc. [FL] is a Good Choice for Investors After New Price Target of $45.74

Foot Locker Inc. [NYSE: FL] traded at a low on 03/29/23, posting a -0.12 loss after which it closed the day’ session at $39.98. The company report on March 22, 2023 that FOOT LOCKER, INC. TO PRESENT AT THE J.P. MORGAN 9th ANNUAL RETAIL ROUND UP CONFERENCE.

Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic retailer, today announced that Mary Dillon, President & Chief Executive Officer, Frank Bracken, Executive Vice President & Chief Commercial Officer, and Robert Higginbotham, Interim Chief Financial Officer will present at the J.P. Morgan 9th Annual Retail Round Up Conference on Thursday, March 30th at 11:00 a.m. ET.

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A link to the audio fireside chat will be available on footlocker-inc.com, on Thursday, March 30th at 11:00 a.m. ET and available on the website for 90 days following the event.

The results of the trading session contributed to over 4642449 shares changing hands. Over the past one week, the price volatility of Foot Locker Inc. stands at 4.11% while the volatility over the past one month is 4.79%.

The market cap for FL stock reached $3.71 billion, with 93.40 million shares outstanding and 91.65 million shares in the current float. Compared to the average trading volume of 2.57M shares, FL reached a trading volume of 4642449 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $45.74 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 1.70. 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.

UBS have made an estimate for Foot Locker Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on March 29, 2023. The new note on the price target was released on March 21, 2023, representing the official price target for Foot Locker Inc. stock. Previously, the target price had yet another raise from $47 to $50, while Citigroup kept a Buy rating on FL stock. On March 16, 2023, analysts increased their price target for FL shares from 39 to 50.

The Average True Range (ATR) for Foot Locker Inc. is set at 1.97, with the Price to Sales ratio for FL stock in the period of the last 12 months amounting to 0.42. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 3.79.

How has FL stock performed recently?

Foot Locker Inc. [FL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.30. With this latest performance, FL shares dropped by -8.55% in over the last four-week period, additionally plugging by 17.73% over the last 6 months – not to mention a rise of 32.47% 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 45.33, with the RSI for the last a single of trading hit 45.88, and the three-weeks RSI is set at 46.28 for Foot Locker Inc. [FL]. The present Moving Average for the last 50 days of trading for this stock 42.49, while it was recorded at 38.93 for the last single week of trading, and 35.43 for the last 200 days.

Foot Locker Inc. [FL]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Foot Locker Inc. [FL] shares currently have an operating margin of +7.91 and a Gross Margin at +29.64. Foot Locker Inc.’s Net Margin is presently recorded at +3.94.

Return on Equity for this stock inclined to 10.56, with Return on Assets sitting at 4.30.

Foot Locker Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 1.50.

Insider trade positions for Foot Locker Inc. [FL]

There are presently around $3,727 million, or 97.10% 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 11,468,571, which is approximately -7.142% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 10,574,910 shares of the stock with an approximate value of $423.31 million in FL stocks shares; and FMR LLC, currently with $381.3 million in FL stock with ownership of nearly 3.342% of the company’s market capitalization.

Positions in Foot Locker Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 160 institutional holders increased their position in Foot Locker Inc. [NYSE:FL] by around 12,265,397 shares. Additionally, 167 investors decreased positions by around 8,879,469 shares, while 60 investors held positions by with 71,955,853 shares. The mentioned changes placed institutional holdings at 93,100,719 shares, according to the latest SEC report filing. FL stock had 65 new institutional investments in for a total of 2,424,800 shares, while 50 institutional investors sold positions of 1,440,169 shares during the same period.


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