Foot Locker (NYSE:FL) Price Target Lowered to $32.00 at Evercore ISI

Foot Locker (NYSE:FL) had its price objective decreased by equities research analysts at Evercore ISI from $38.00 to $32.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the athletic footwear retailer’s stock. Evercore ISI’s target price indicates a potential upside of 29.98% from the company’s current price.

Several other research firms have also commented on FL. Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Citigroup increased their price target on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Piper Sandler restated a “neutral” rating and set a $30.00 price objective on shares of Foot Locker in a research report on Friday, August 23rd. StockNews.com downgraded Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Finally, Gordon Haskett assumed coverage on Foot Locker in a research report on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price objective on the stock. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.93.

Foot Locker Stock Performance

FL traded up $0.06 during trading on Tuesday, reaching $24.62. The company’s stock had a trading volume of 1,631,859 shares, compared to its average volume of 3,232,567. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -6.40, a price-to-earnings-growth ratio of 0.68 and a beta of 1.44. The company’s fifty day moving average price is $24.51 and its 200-day moving average price is $25.77. Foot Locker has a 52-week low of $20.47 and a 52-week high of $35.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. On average, equities analysts forecast that Foot Locker will post 1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Foot Locker during the 3rd quarter valued at about $58,000. Virtu Financial LLC acquired a new position in shares of Foot Locker during the third quarter worth $701,000. Neo Ivy Capital Management purchased a new position in shares of Foot Locker in the third quarter valued at $2,636,000. Geode Capital Management LLC grew its holdings in Foot Locker by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after purchasing an additional 25,394 shares in the last quarter. Finally, MML Investors Services LLC acquired a new position in Foot Locker in the 3rd quarter worth $283,000.

About Foot Locker

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.