In a report released today, Mitch Kummetz from Pivotal Research reiterated a Buy rating on Foot Locker Inc (FL), with a price target of $50. The company’s shares closed last Monday at $35.69, close to its 52-week low of $33.12.
Kummetz said:
“We are lowering our SSS/EPS estimates from +4.0%/$5.04 to +3.5%/$4.95; consensus has dropped from +4.2%/$4.99 to +3.6%/$4.93.”
According to TipRanks.com, Kummetz is a 3-star analyst with an average return of 1.4% and a 51.4% success rate. Kummetz covers the Services sector, focusing on stocks such as Shoe Carnival, Genesco Inc, and Tilly’s Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Foot Locker Inc with a $47.79 average price target, representing a 41.1% upside. In a report issued on August 19, Deutsche Bank also maintained a Buy rating on the stock with a $63 price target.
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Foot Locker Inc’s market cap is currently $3.73B and has a P/E ratio of 7.78. The company has a Price to Book ratio of 1.55.
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Foot Locker, Inc. engages in the retail of athletic shoes and apparel. It operates through the Athletic Stores and Direct-to-Customers segments. The Athletic Stores segment sells athletic footwear and apparel under the Foot Locker, Lady Foot Locker, SIX:02, Kids Foot Locker, Champs Sports, Footaction, Runners Point, and Sidestep brands.
