JPMorgan Chase & Co. Issues Pessimistic Forecast for Foot Locker (NYSE:FL) Stock Price

Foot Locker (NYSE:FL) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $23.00 to $20.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the athletic footwear retailer’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 4.28% from the company’s current price.

FL has been the topic of several other reports. Morgan Stanley cut their target price on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, December 6th. Jefferies Financial Group reduced their price objective on Foot Locker from $27.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, December 4th. Piper Sandler reduced their price objective on Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Barclays reduced their price target on Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Finally, Williams Trading raised Foot Locker from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $17.00 to $21.00 in a research report on Wednesday, November 27th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.94.

Foot Locker Trading Down 1.3 %

FL opened at $20.90 on Friday. Foot Locker has a 52 week low of $19.33 and a 52 week high of $35.60. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $22.09 and a 200-day simple moving average of $25.04. The firm has a market cap of $1.98 billion, a P/E ratio of -4.63, a P/E/G ratio of 0.82 and a beta of 1.49.

Foot Locker (NYSE:FL) last announced 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). The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. On average, equities analysts expect that Foot Locker will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Foot Locker

Several large investors have recently bought and sold shares of FL. Chartwell Investment Partners LLC grew its position in shares of Foot Locker by 2.4% during the third quarter. Chartwell Investment Partners LLC now owns 33,685 shares of the athletic footwear retailer’s stock worth $870,000 after acquiring an additional 782 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Foot Locker by 32.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,267 shares of the athletic footwear retailer’s stock worth $84,000 after purchasing an additional 801 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in 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 worth $40,000 after purchasing an additional 985 shares during the last quarter. Natixis Advisors LLC grew its position in Foot Locker by 8.9% during the 3rd quarter. Natixis Advisors LLC now owns 12,867 shares of the athletic footwear retailer’s stock worth $332,000 after purchasing an additional 1,054 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its stake in Foot Locker by 12.2% in the third quarter. Vontobel Holding Ltd. now owns 11,144 shares of the athletic footwear retailer’s stock valued at $288,000 after purchasing an additional 1,210 shares during the period.

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.