Canaccord Genuity Analysts Give Foot Locker, Inc. (FL) a $36.00 Price Target

Foot Locker shares surge the most in 40 years after earnings beat

Foot Locker Q3 Earnings Top Wall Street Targets

The Dover International Speedway is located in Dover, Delaware, on approximately 770 acres of land. With that said, researchers took a deep dive into the hotly debated question: is it too early to buy Foot Locker, Inc.

Foot Locker, Inc. (FL) failed to surprise the stock market in its last reported earnings when it earned $0.62 a piece versus the consensus-estimated $0.9. FL's profit would be $99.23 million giving it 9.75 P/E if the $0.80 EPS is correct.

Foot Locker, Inc. has a consensus hold rating from 21 Wall Street analysts, and the number of shares now sold short amount to at least 11.94% of shares outstanding. The company P/S (price to Sales) ratio is 0.49, P/B (price to Book) ratio is 1.36, while its P/C (price to Cash) ratio stands at 3.60. The target implies a 7.88% spike from where the shares are now trading. It is down 11.76% since November 16, 2016 and is downtrending.

Eidelman Virant Capital holds 0.84% of its portfolio in Dover Motorsports, Inc. for 694,000 shares. American Int Grp Inc Inc owns 84,634 shares. Atlanta Cap Management L L C, Georgia-based fund reported 357,636 shares. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. Therefore 40% are positive. Tracking the stock price in relation to moving averages as well as highs and lows for the year might assist with evaluating future stock performance. As per Tuesday, August 29, the company rating was maintained by Morgan Stanley. As per Friday, August 18, the company rating was downgraded by Wells Fargo.

The growing competition against e-Commerce businesses, such as Amazon, negatively impact companies like Foot Locker that primarily revolve around in-store locations.

Several other research firms have also weighed in on FL. Bank of America Corporation lowered Foot Locker from a neutral rating to an underperform rating in a research report on Friday, August 18th.

Foot Locker shares surge the most in 40 years after earnings beat
Foot Locker Inc. Reports 28% Decline In Q3 Profit

Footlocker and Nike are partnering again with a pop-up shop in NYC called Sneakeasy located at 30 Wall Street and scheduled to open November 22 and remain open until December 1. Piper Jaffray Companies set a $35.00 target price on shares of Foot Locker and gave the company a "hold" rating in a report on Tuesday. (NYSE:FL) has "Hold" rating given on Thursday, July 13 by Piper Jaffray. Finally, UBS AG reaffirmed a "neutral" rating on shares of Foot Locker in a research report on Monday, August 21st.

Analysts have placed a $39.89 price target on Foot Locker, Inc., suggesting a 32.97% gain from recent close. The Firm operates through two divisions: Athletic Stores and Direct-to-Customers.

Investors sentiment decreased to 0.87 in Q2 2017. Its down 0.17, from 1.04 in 2017Q1. It fall, as 100 investors sold Foot Locker, Inc. shares while 161 reduced holdings. 64 funds opened positions while 162 raised stakes. Pacer Advisors Inc. now owns 3,935 shares of the athletic footwear retailer's stock valued at $194,000 after buying an additional 1,305 shares in the last quarter. (NYSE:FL) for 41,579 shares. Jefferies Group Incorporated Ltd Company holds 0% or 3,313 shares. Commerzbank Aktiengesellschaft Fi owns 6,632 shares.

How should investors play Foot Locker ahead of their earnings report?

On the heels of the announcement, Foot Locker shares spiked 30 percent, marking the stock's best performance in four decades, according to CNBC. (NYSE:FL). 242,921 are owned by Barclays Public Limited Co. Calamos Advisors Limited Liability owns 44,757 shares or 0.02% of their USA portfolio. Exane Derivatives has invested 0% in Foot Locker, Inc.

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