Jefferies Financial Group Has Lowered Expectations for Foot Locker (NYSE:FL) Stock Price

Foot Locker (NYSE:FL) had its price target dropped by investment analysts at Jefferies Financial Group from $22.00 to $19.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the athletic footwear retailer’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 6.65% from the stock’s current price.

FL has been the topic of several other research reports. Piper Sandler reduced their price objective on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Morgan Stanley decreased their price target on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, December 6th. The Goldman Sachs Group lowered 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, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $24.00 target price on shares of Foot Locker in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price target on Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, January 24th. Four equities research 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.35.

Foot Locker Price Performance

FL opened at $17.82 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The stock has a market capitalization of $1.69 billion, a P/E ratio of -3.95, 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 200-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 released its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. Sell-side analysts anticipate that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Foot Locker by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 10,505,006 shares of the athletic footwear retailer’s stock worth $228,589,000 after purchasing an additional 210,832 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Foot Locker by 88.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock worth $115,365,000 after acquiring an additional 2,500,396 shares during the period. Geode Capital Management LLC increased its stake in shares of Foot Locker by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after purchasing an additional 25,394 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Foot Locker by 67.9% during 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 purchasing an additional 770,932 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Foot Locker by 5.2% in the 4th quarter. American Century Companies Inc. now owns 1,659,206 shares of the athletic footwear retailer’s stock valued at $36,104,000 after purchasing an additional 81,814 shares during the period.

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.