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

Foot Locker (NYSE:FL) had its price target lowered by Jefferies Financial Group from $22.00 to $19.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the athletic footwear retailer’s stock.

A number of other equities research analysts also recently weighed in on the company. UBS Group dropped their target price on Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Guggenheim dropped their price objective on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Morgan Stanley decreased 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 report on Friday, December 6th. Robert W. Baird dropped their price target on shares of Foot Locker from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Finally, Piper Sandler reduced their price target on 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 research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.18.

Foot Locker Stock Up 5.0 %

Shares of FL opened at $18.25 on Wednesday. The firm has a market cap of $1.73 billion, a P/E ratio of -4.05, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. Foot Locker has a 52 week low of $16.92 and a 52 week high of $33.94. The firm’s 50-day simple moving average is $19.91 and its 200 day simple moving average is $23.33.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, beating the consensus estimate of $0.73 by $0.13. The company had revenue of $2.25 billion for 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 revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, analysts forecast that Foot Locker will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. increased its position in Foot Locker by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer’s stock worth $190,000 after purchasing an additional 562 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Foot Locker by 81.6% during the fourth 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 last quarter. Chartwell Investment Partners LLC increased its holdings 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 buying an additional 782 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Foot Locker by 32.5% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,267 shares of the athletic footwear retailer’s stock valued at $84,000 after acquiring an additional 801 shares during the last quarter. Finally, Foundry Partners LLC boosted its holdings in shares of Foot Locker by 8.8% during the 4th quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer’s stock valued at $278,000 after acquiring an additional 1,031 shares in the last quarter.

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.