Foot Locker (NYSE:FL) Price Target Cut to $20.00

Foot Locker (NYSE:FL) had its target price dropped by investment analysts at Morgan Stanley from $26.00 to $20.00 in a report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the athletic footwear retailer’s stock. Morgan Stanley’s price target would indicate a potential downside of 15.29% from the company’s previous close.

Several other equities research analysts have also commented on the company. Citigroup upgraded Foot Locker from a “sell” rating to a “neutral” rating and upped their price target for the stock from $19.00 to $24.00 in a research note on Friday, March 22nd. Jefferies Financial Group dropped their price objective on shares of Foot Locker from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Guggenheim cut their target price on shares of Foot Locker from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Piper Sandler decreased their price target on shares of Foot Locker from $37.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, March 7th. Finally, UBS Group upgraded Foot Locker from a “sell” rating to a “neutral” rating and increased their price target for the company from $12.00 to $23.00 in a report on Monday, March 11th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.56.

Foot Locker Trading Up 1.4 %

Shares of FL stock opened at $23.61 on Monday. The firm’s 50-day simple moving average is $24.85 and its 200-day simple moving average is $26.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.72 and a quick ratio of 0.55. Foot Locker has a 1-year low of $14.84 and a 1-year high of $42.19. The firm has a market cap of $2.23 billion, a P/E ratio of -6.75, a PEG ratio of 0.52 and a beta of 1.50.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the business posted $0.97 earnings per share. Foot Locker’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities analysts forecast that Foot Locker will post 1.55 EPS for the current year.

Institutional Trading of Foot Locker

A number of hedge funds and other institutional investors have recently made changes to their positions in FL. Quadrant Capital Group LLC increased its holdings in shares of Foot Locker by 3,004.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock valued at $44,000 after acquiring an additional 1,352 shares during the last quarter. CWM LLC lifted its holdings in Foot Locker by 26.7% in the fourth quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock worth $57,000 after acquiring an additional 387 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Foot Locker during the fourth quarter valued at approximately $100,000. Sunbelt Securities Inc. acquired a new stake in shares of Foot Locker during the 1st quarter worth approximately $100,000. Finally, Signaturefd LLC lifted its holdings in shares of Foot Locker by 105.9% in the 3rd quarter. Signaturefd LLC now owns 5,272 shares of the athletic footwear retailer’s stock worth $91,000 after purchasing an additional 2,712 shares during the last quarter.

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.