Foot Locker Inc Gets a Buy from Jefferies

By Austin Angelo

In a report released yesterday, Randal Konik from Jefferies reiterated a Buy rating on Foot Locker Inc (NYSE: FL), with a price target of $88. The company’s shares closed yesterday at $76.55.

According to TipRanks.com, Konik is a 1-star analyst with an average return of -0.8% and a 45.2% success rate. Konik covers the Services sector, focusing on stocks such as Eros International, Abercrombie Fitch, and Acushnet Holdings.

Currently, the analyst consensus on Foot Locker Inc is Moderate Buy and the average price target is $85, representing an 11.0% upside.

In a report released yesterday, Susquehanna also reiterated a Buy rating on the stock with a $86 price target.

Based on Foot Locker Inc’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $2.11 billion and quarterly net profit of $189 million. In comparison, last year the company earned revenue of $2.01 billion and had a net profit of $158 million.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is neutral on the stock. Last month, Matthew Mckenna, a Director at FL sold 5,000 shares for a total of $379,550.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Foot Locker, Inc. engages in the global retail of athletically inspired shoes and apparel. It operates through the following segments: Athletic Stores and Direct-to-Customers. The Athletic Stores segment operates athletic footwear and apparel retailers in the world, with brands that include Foot Locker, Lady Foot Locker, SIX:02, Kids Foot Locker, Champs Sports, Footaction, Runners Point and Sidestep. The Direct-to-Customers segment includes Footlocker.com, Inc. and other affiliates, including Eastbay, Inc., and company’s international ecommerce businesses, which sell to customers through their Internet and mobile sites and catalogs. The company was founded in 1989 and is headquartered in New York, NY.