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

Foot Locker (NYSE:FL) had its target price decreased by Piper Sandler from $23.00 to $19.00 in a research report released on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the athletic footwear retailer’s stock.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. decreased their price target on Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price target on shares of Foot Locker in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $24.00 price target on shares of Foot Locker in a research note on Wednesday. The Goldman Sachs Group decreased their price target on Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a research note on Thursday, December 5th. Finally, Robert W. Baird decreased their price target on Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $23.13.

Foot Locker Price Performance

Foot Locker stock opened at $18.70 on Thursday. The stock’s fifty day moving average price is $19.72 and its two-hundred day moving average price is $23.13. Foot Locker has a one year low of $16.92 and a one year high of $33.94. 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 firm has a market cap of $1.77 billion, a PE ratio of -4.15, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the company earned $0.38 EPS. The company’s revenue was down 5.7% on a year-over-year basis. As a group, research analysts expect that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbour Investments Inc. lifted its holdings in Foot Locker by 81.6% during the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock worth $31,000 after buying an additional 648 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Foot Locker during the 4th quarter worth about $32,000. Wilmington Savings Fund Society FSB acquired a new position in Foot Locker during the 3rd quarter worth about $58,000. R Squared Ltd acquired a new position in Foot Locker during the 4th quarter worth about $50,000. Finally, Sterling Capital Management LLC lifted its holdings in Foot Locker by 819.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock worth $57,000 after buying an additional 2,343 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.