Foot Locker (NYSE:FL) Receives Equal Weight Rating from Barclays

Foot Locker (NYSE:FL)‘s stock had its “equal weight” rating restated by analysts at Barclays in a report released on Friday,Benzinga reports. They presently have a $24.00 price objective on the athletic footwear retailer’s stock, up from their previous price objective of $14.00. Barclays‘s price objective would indicate a potential upside of 0.67% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird dropped their price target on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Evercore ISI lowered their target price on Foot Locker from $22.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. raised Foot Locker from an “underweight” rating to a “neutral” rating and increased their price target for the company from $16.00 to $24.00 in a research note on Thursday. The Goldman Sachs Group cut their price objective on Foot Locker from $19.00 to $17.00 and set a “sell” rating on the stock in a research note on Tuesday, April 22nd. Finally, UBS Group lowered their price target on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $21.50.

Foot Locker Price Performance

Shares of FL opened at $23.84 on Friday. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.27 billion, a PE ratio of -5.29, a PEG ratio of 0.53 and a beta of 1.42. Foot Locker has a 12-month low of $11.00 and a 12-month high of $33.94. The business has a 50-day simple moving average of $13.58 and a two-hundred day simple moving average of $18.65.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Analysts anticipate that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

Institutional investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC grew its stake in shares of Foot Locker by 1.1% in the 1st quarter. Bridgeway Capital Management LLC now owns 740,824 shares of the athletic footwear retailer’s stock valued at $10,446,000 after buying an additional 8,266 shares during the period. Royal Bank of Canada grew its stake in Foot Locker by 8.2% in the first quarter. Royal Bank of Canada now owns 60,170 shares of the athletic footwear retailer’s stock valued at $848,000 after acquiring an additional 4,574 shares during the period. Vident Advisory LLC bought a new stake in shares of Foot Locker during the first quarter valued at approximately $285,000. Magnetar Financial LLC acquired a new position in shares of Foot Locker during the first quarter worth approximately $163,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Foot Locker by 36.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 238,000 shares of the athletic footwear retailer’s stock worth $3,356,000 after purchasing an additional 63,500 shares in the last quarter.

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.