Barclays Cuts Foot Locker (NYSE:FL) Price Target to $29.00

Foot Locker (NYSE:FL) had its price target decreased by Barclays from $34.00 to $29.00 in a report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the athletic footwear retailer’s stock.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group cut their price objective on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating for the company in a research report on Thursday. Williams Trading upgraded shares of Foot Locker from a “sell” rating to a “hold” rating and boosted their price target for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Evercore ISI decreased their target price on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 26th. Guggenheim decreased their target price on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Piper Sandler decreased their target price on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.29.

Foot Locker Price Performance

Shares of FL opened at $22.00 on Friday. The company has a quick ratio of 0.49, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. Foot Locker has a twelve month low of $19.33 and a twelve month high of $35.60. The company has a market capitalization of $2.09 billion, a P/E ratio of -4.88, a price-to-earnings-growth ratio of 0.77 and a beta of 1.46. The firm has a 50 day moving average of $23.87 and a 200 day moving average of $25.85.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the firm posted $0.30 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

A number of hedge funds have recently added to or reduced their stakes in FL. Allspring Global Investments Holdings LLC lifted its position in shares of Foot Locker by 23.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock worth $72,279,000 after purchasing an additional 557,489 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Foot Locker in the second quarter worth $10,005,000. Stifel Financial Corp raised its holdings in shares of Foot Locker by 43.3% in the third quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer’s stock worth $23,202,000 after buying an additional 271,297 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Foot Locker by 10.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock worth $29,341,000 after buying an additional 106,402 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Foot Locker in the third quarter worth $2,636,000.

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.