Foot Locker (NYSE:FL) Given New $19.00 Price Target at Piper Sandler

Foot Locker (NYSE:FL) had its price objective lowered by Piper Sandler from $23.00 to $19.00 in a report released on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the athletic footwear retailer’s stock.

Other analysts have also issued reports about the stock. Guggenheim cut their target price on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. JPMorgan Chase & Co. cut their target price on shares of Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group cut their target price on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday. Evercore ISI cut their target price on shares of Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Williams Trading upgraded shares of Foot Locker from a “sell” rating to a “hold” rating and upped their price target for the company from $17.00 to $21.00 in a research report on Wednesday, November 27th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.35.

Foot Locker Trading Down 2.4 %

Foot Locker stock opened at $17.82 on Thursday. The firm has a 50 day simple moving average of $19.91 and a 200-day simple moving average of $23.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The stock has a market capitalization of $1.69 billion, a PE ratio of -3.95, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. Foot Locker has a 12-month low of $16.92 and a 12-month high of $33.94.

Foot Locker (NYSE:FL) last released its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, beating the consensus estimate of $0.73 by $0.13. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the business earned $0.38 earnings per share. The business’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts expect that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FL. Harbour Investments Inc. lifted its position in Foot Locker by 81.6% in the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock worth $31,000 after buying an additional 648 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Foot Locker in the 4th quarter worth approximately $32,000. R Squared Ltd purchased a new stake in Foot Locker in the 4th quarter worth approximately $50,000. Sterling Capital Management LLC lifted its position in Foot Locker by 819.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock worth $57,000 after buying an additional 2,343 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Foot Locker in the 3rd quarter worth approximately $58,000.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.