Foot Locker (NYSE:FL) Price Target Lowered to $32.00 at Evercore ISI

Foot Locker (NYSE:FL) had its price target decreased by Evercore ISI from $38.00 to $32.00 in a research report report published on Tuesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the athletic footwear retailer’s stock.

A number of other equities research analysts have also issued reports on FL. Piper Sandler reissued a “neutral” rating and set a $30.00 target price on shares of Foot Locker in a research note on Friday, August 23rd. Gordon Haskett began coverage on shares of Foot Locker in a research report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price objective on the stock. Barclays raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Robert W. Baird cut their price target 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. Finally, StockNews.com cut shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.93.

Foot Locker Trading Down 0.3 %

Foot Locker stock opened at $24.48 on Tuesday. The company has a 50 day moving average price of $24.51 and a 200 day moving average price of $25.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66. Foot Locker has a 52 week low of $20.47 and a 52 week high of $35.60. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -6.33, a P/E/G ratio of 0.68 and a beta of 1.44.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Research analysts forecast that Foot Locker will post 1.49 EPS for the current year.

Institutional Investors Weigh In On Foot Locker

Several hedge funds and other institutional investors have recently modified their holdings of FL. Dimensional Fund Advisors LP grew its position in Foot Locker by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer’s stock worth $117,123,000 after buying an additional 71,152 shares in the last quarter. 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 acquiring an additional 557,489 shares during the period. Geode Capital Management LLC lifted its position in shares of Foot Locker by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after acquiring an additional 25,394 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Foot Locker by 10.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock worth $29,341,000 after purchasing an additional 106,402 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Foot Locker by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock valued at $28,775,000 after purchasing an additional 38,318 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.