Foot Locker (NYSE:FL) Earns “Equal Weight” Rating from Barclays

Foot Locker (NYSE:FL)‘s stock had its “equal weight” rating reiterated by stock analysts at Barclays in a research report issued on Friday, MarketBeat Ratings reports. They currently have a $24.00 target price on the athletic footwear retailer’s stock, up from their prior target price of $14.00. Barclays‘s price objective suggests a potential upside of 0.69% from the stock’s current price.

A number of other brokerages also recently weighed in on FL. Needham & Company LLC reaffirmed a “hold” rating and set a $24.00 price objective on shares of Foot Locker in a research report on Thursday. Piper Sandler lowered their price objective 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. Morgan Stanley decreased their target price on shares of Foot Locker from $16.00 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, May 6th. Jefferies Financial Group decreased their target price on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Finally, Citigroup cut shares of Foot Locker from a “neutral” rating to a “mixed” rating in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.19.

Foot Locker Price Performance

FL opened at $23.84 on Friday. The company has a 50-day moving average of $13.73 and a 200-day moving average of $18.62. The company has a market capitalization of $2.27 billion, a P/E ratio of -5.28, a PEG ratio of 0.53 and a beta of 1.42. 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 quick ratio of 0.45 and a current ratio of 1.67.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. Equities analysts expect that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Trading of Foot Locker

Institutional investors have recently made changes to their positions in the stock. Harbour Investments Inc. lifted its stake in shares of Foot Locker by 81.6% in the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock worth $31,000 after acquiring an additional 648 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Foot Locker during the fourth quarter valued at approximately $32,000. GAMMA Investing LLC lifted its stake in Foot Locker by 250.6% during the first quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer’s stock valued at $35,000 after purchasing an additional 1,764 shares during the last quarter. R Squared Ltd acquired a new stake in Foot Locker during the fourth quarter valued at approximately $50,000. Finally, Sterling Capital Management LLC lifted its stake in Foot Locker by 819.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock valued at $57,000 after purchasing an additional 2,343 shares during 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.