The Goldman Sachs Group Cuts Foot Locker (NYSE:FL) Price Target to $17.00

Foot Locker (NYSE:FL) had its price target trimmed by The Goldman Sachs Group from $19.00 to $17.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a sell rating on the athletic footwear retailer’s stock.

FL has been the subject of several other research reports. StockNews.com cut Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, April 11th. Needham & Company LLC restated a “buy” rating and set a $24.00 price target on shares of Foot Locker in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Foot Locker from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Monday, April 14th. UBS Group lowered their target price on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Finally, Piper Sandler reduced their price target on shares of Foot Locker from $19.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Foot Locker presently has an average rating of “Hold” and a consensus price target of $21.38.

Foot Locker Price Performance

Shares of FL opened at $12.01 on Tuesday. The firm has a 50-day simple moving average of $15.02 and a two-hundred day simple moving average of $19.74. The stock has a market cap of $1.14 billion, a PE ratio of -2.66, a P/E/G ratio of 0.53 and a beta of 1.41. Foot Locker has a 1-year low of $11.00 and a 1-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.

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

Hedge Funds Weigh In On Foot Locker

Large investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its holdings in shares of Foot Locker by 42.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 33,283 shares of the athletic footwear retailer’s stock worth $469,000 after buying an additional 9,985 shares during the period. SG Americas Securities LLC boosted its stake in Foot Locker by 1,391.0% in the 1st quarter. SG Americas Securities LLC now owns 98,301 shares of the athletic footwear retailer’s stock worth $1,386,000 after purchasing an additional 91,708 shares during the period. GAMMA Investing LLC grew its position in Foot Locker by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer’s stock worth $35,000 after purchasing an additional 1,764 shares in the last quarter. Investors Research Corp raised its stake in Foot Locker by 19.7% during the 1st quarter. Investors Research Corp now owns 11,529 shares of the athletic footwear retailer’s stock valued at $163,000 after purchasing an additional 1,900 shares during the period. Finally, Moody National Bank Trust Division lifted its holdings in shares of Foot Locker by 35.0% in the first quarter. Moody National Bank Trust Division now owns 37,867 shares of the athletic footwear retailer’s stock valued at $534,000 after purchasing an additional 9,817 shares in the last quarter.

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.