Foot Locker (NYSE:FL) Price Target Cut to $12.00 by Analysts at Piper Sandler

Foot Locker (NYSE:FL) had its price objective reduced by Piper Sandler from $19.00 to $12.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the athletic footwear retailer’s stock.

FL has been the subject of a number of other research reports. 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 report on Friday, January 24th. Jefferies Financial Group reduced their target price on Foot Locker from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Robert W. Baird lowered their target price on Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. StockNews.com downgraded Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price objective on shares of Foot Locker in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Foot Locker has an average rating of “Hold” and an average target price of $21.94.

Foot Locker Price Performance

Shares of FL opened at $11.81 on Friday. The firm has a market capitalization of $1.12 billion, a PE ratio of -2.62, a P/E/G ratio of 0.53 and a beta of 1.41. The stock’s 50 day moving average is $16.42 and its two-hundred day moving average is $20.53. Foot Locker has a twelve month low of $11.16 and a twelve month high of $33.94. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15.

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 analysts’ consensus estimates of $0.73 by $0.13. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the company earned $0.38 earnings per share. Foot Locker’s quarterly revenue was down 5.7% compared to the same quarter last year. Research analysts anticipate that Foot Locker will post 1.23 earnings per share for the current year.

Institutional Trading of Foot Locker

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in shares of Foot Locker by 88.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock valued at $115,365,000 after purchasing an additional 2,500,396 shares in the last quarter. Cramer Rosenthal Mcglynn LLC acquired a new stake in Foot Locker during the fourth quarter valued at approximately $34,835,000. Cooper Creek Partners Management LLC bought a new position in Foot Locker during the 4th quarter worth approximately $30,416,000. Segall Bryant & Hamill LLC acquired a new position in shares of Foot Locker in the 4th quarter worth approximately $18,640,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Foot Locker by 67.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock worth $41,483,000 after acquiring an additional 770,932 shares in 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.