JP Morgan lifts Foot Locker Inc [FL] price estimate. Who else is bullish?

Foot Locker Inc [NYSE: FL] gained 4.29% or 0.91 points to close at $22.11 with a heavy trading volume of 3484739 shares. The company report on September 1, 2023 at 6:51 PM that Blackstone and Airbnb Set to Join S&P 500; Others to Join S&P 100, S&P MidCap 400 and S&P SmallCap 600.

S&P Dow Jones Indices (“S&P DJI”) will make the following changes to the S&P 500, S&P 100, S&P MidCap 400 and S&P SmallCap 600 indices effective prior to the open of trading on Monday, September 18, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from the S&P SmallCap 600 are no longer representative of the small-cap market space.

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Blackstone Inc. (NYSE:BX) and Airbnb Inc. (NASD:ABNB) will replace Lincoln National Corp. (NYSE:LNC) and Newell Brands Inc. (NASD:NWL) in the S&P 500 respectively, and Lincoln National and Newell Brands will replace UNIQURE N.V. (NASD:QURE) and Universal Insurance Holdings Inc. (NYSE:UVE) respectively in the S&P SmallCap 600.

It opened the trading session at $21.81, the shares rose to $22.39 and dropped to $21.71, the range by which the price of stock traded the whole day. The daily chart for FL points out that the company has recorded -43.84% loss over the past six months. However, it is still -48.99% lower than its most recent low trading price.

If we look at the average trading volume of 5.17M shares, FL reached to a volume of 3484739 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 $19.24 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 2.95. 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.

JP Morgan have made an estimate for Foot Locker Inc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on October 24, 2023.

The Average True Range (ATR) for Foot Locker Inc is set at 0.96, with the Price to Sales ratio for FL stock in the period of the last 12 months amounting to 0.25. The Price to Book ratio for the last quarter was 0.64, with the Price to Cash per share for the same quarter was set at 2.05.

Trading performance analysis for FL stock

Foot Locker Inc [FL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.49. With this latest performance, FL shares gained by 19.32% in over the last four-week period, additionally sinking by -43.84% over the last 6 months – not to mention a drop of -31.34% 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 63.87, with the RSI for the last a single of trading hit 68.43, and the three-weeks RSI is set at 59.24 for Foot Locker Inc [FL]. The present Moving Average for the last 50 days of trading for this stock 19.24, while it was recorded at 20.89 for the last single week of trading, and 30.89 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 +7.91 and a Gross Margin at +29.64. Foot Locker Inc’s Net Margin is presently recorded at +3.94.

Return on Total Capital for FL is now 10.54, given the latest momentum, and Return on Invested Capital for the company is 5.74. Return on Equity for this stock inclined to 10.56, with Return on Assets sitting at 4.30. When it comes to the capital structure of this company, Foot Locker Inc [FL] has a Total Debt to Total Equity ratio set at 97.97. Additionally, FL Total Debt to Total Capital is recorded at 49.49, with Total Debt to Total Assets ending up at 40.80. Long-Term Debt to Equity for the company is recorded at 81.26, with the Long-Term Debt to Total Capital now at 41.05.

Reflecting on the efficiency of the workforce at the company, Foot Locker Inc [FL] managed to generate an average of $7,359 per employee. Receivables Turnover for the company is 59.18 with a Total Asset Turnover recorded at a value of 1.09.Foot Locker Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.37 and a Current Ratio set at 1.63.

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 -11.19%.

An analysis of Institutional ownership at Foot Locker Inc [FL]

The top three institutional holders of FL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in FL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in FL stock with ownership which is approximately 5.7994%.