Piper Sandler Lowers Foot Locker (NYSE:FL) Price Target to $19.00

Foot Locker (NYSE:FL) had its price objective reduced by analysts at Piper Sandler from $23.00 to $19.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the athletic footwear retailer’s stock. Piper Sandler’s price target points to a potential upside of 4.14% from the stock’s previous close.

A number of other research analysts also recently commented on FL. Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and raised their target price for the company from $17.00 to $21.00 in a research report on Wednesday, November 27th. Barclays lowered their price target on shares of Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Guggenheim lowered their price target on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 price target on shares of Foot Locker in a report on Wednesday. Finally, The Goldman Sachs Group lowered their price target on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.41.

Foot Locker Trading Up 5.0 %

NYSE FL opened at $18.25 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -4.05, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. The company’s 50-day simple moving average is $19.91 and its two-hundred day simple moving average is $23.33. Foot Locker has a one year low of $16.92 and a one year high of $33.94.

Foot Locker (NYSE:FL) last posted 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. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.32 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. Equities analysts forecast that Foot Locker will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

Several institutional investors have recently made changes to their positions in FL. Creative Planning increased its holdings in shares of Foot Locker by 42.1% during the 3rd quarter. Creative Planning now owns 13,823 shares of the athletic footwear retailer’s stock valued at $357,000 after purchasing an additional 4,093 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Foot Locker during the 3rd quarter valued at approximately $1,563,000. Chartwell Investment Partners LLC increased its holdings in shares of Foot Locker by 2.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 33,685 shares of the athletic footwear retailer’s stock valued at $870,000 after purchasing an additional 782 shares in the last quarter. Versor Investments LP purchased a new position in shares of Foot Locker during the 3rd quarter valued at approximately $793,000. Finally, Empowered Funds LLC increased its holdings in shares of Foot Locker by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 385,521 shares of the athletic footwear retailer’s stock valued at $9,962,000 after purchasing an additional 19,612 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.