Foot Locker (NYSE:FL) Shares Down 4.3% After Analyst Downgrade

Foot Locker, Inc. (NYSE:FL)’s stock price was down 4.3% during trading on Tuesday after Piper Sandler lowered their price target on the stock from $30.00 to $28.00. Piper Sandler currently has a neutral rating on the stock. Foot Locker traded as low as $24.00 and last traded at $24.07. Approximately 212,780 shares changed hands during trading, a decline of 93% from the average daily volume of 3,227,304 shares. The stock had previously closed at $25.14.

Several other equities analysts have also issued reports on the company. Evercore ISI decreased their price objective on Foot Locker from $38.00 to $32.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. Needham & Company LLC assumed coverage on Foot Locker in a research report on Friday, November 22nd. They set a “buy” rating and a $27.00 price target on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $27.00 target price on shares of Foot Locker in a research report on Wednesday, August 28th. Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $27.00 to $34.00 in a report on Thursday, August 29th. Finally, Robert W. Baird dropped their target price on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.87.

Institutional Investors Weigh In On Foot Locker

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Foot Locker during the 2nd quarter valued at about $31,000. Fifth Third Bancorp boosted its stake in shares of Foot Locker by 116.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after acquiring an additional 733 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Foot Locker by 156.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after acquiring an additional 985 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Foot Locker in the 2nd quarter worth $43,000. Finally, nVerses Capital LLC purchased a new position in Foot Locker during the third quarter valued at $47,000.

Foot Locker Price Performance

The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $24.22 and a 200-day simple moving average of $25.85.

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.