JPMorgan Chase & Co. Lowers Foot Locker (NYSE:FL) Price Target to $16.00

Foot Locker (NYSE:FL) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $19.00 to $16.00 in a report issued on Monday,Benzinga reports. The firm presently has an “underweight” rating on the athletic footwear retailer’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 42.16% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Evercore ISI dropped their price objective on shares of Foot Locker from $22.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Robert W. Baird cut their price objective on Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Needham & Company LLC restated a “buy” rating and set a $24.00 price objective on shares of Foot Locker in a research report on Wednesday, March 5th. UBS Group dropped their target price on Foot Locker from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Finally, Piper Sandler reduced their price target on Foot Locker from $19.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.69.

Foot Locker Stock Down 0.9 %

FL stock opened at $11.26 on Monday. The business has a 50-day simple moving average of $16.11 and a 200 day simple moving average of $20.32. The company has a market cap of $1.07 billion, a PE ratio of -2.50, a price-to-earnings-growth ratio of 0.53 and a beta of 1.41. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. Foot Locker has a 52 week low of $11.08 and a 52 week 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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The company’s quarterly revenue was down 5.7% on a year-over-year basis. Sell-side analysts anticipate that Foot Locker will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

A number of hedge funds have recently bought and sold shares of FL. Moody National Bank Trust Division acquired a new stake in Foot Locker during the 4th quarter worth about $610,000. Geode Capital Management LLC grew its stake in 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. Allspring Global Investments Holdings LLC grew its stake in 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 purchasing an additional 2,500,396 shares during the period. Smartleaf Asset Management LLC increased its holdings in Foot Locker by 198.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,876 shares of the athletic footwear retailer’s stock worth $63,000 after purchasing an additional 1,911 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Foot Locker by 140.8% in the fourth quarter. Sei Investments Co. now owns 412,988 shares of the athletic footwear retailer’s stock valued at $8,987,000 after buying an additional 241,504 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.