Jefferies Financial Group Cuts Foot Locker (NYSE:FL) Price Target to $22.00

Foot Locker (NYSE:FL) had its price target decreased by equities researchers at Jefferies Financial Group from $27.00 to $22.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the athletic footwear retailer’s stock.

A number of other equities research analysts have also recently commented on the stock. Telsey Advisory Group decreased their target price on shares of Foot Locker from $30.00 to $24.00 and set a “market perform” rating on the stock in a research note on Thursday. StockNews.com lowered shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and increased their price objective for the company from $17.00 to $21.00 in a report on Wednesday, November 27th. Citigroup increased their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Gordon Haskett initiated coverage on shares of Foot Locker in a report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.31.

Foot Locker Stock Performance

Shares of FL stock opened at $22.00 on Wednesday. The company’s 50-day moving average is $24.15 and its 200 day moving average is $25.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -5.68, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46. Foot Locker has a one year low of $19.33 and a one year high of $35.60.

Foot Locker (NYSE:FL) last issued its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the company earned $0.30 EPS. Foot Locker’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts expect that Foot Locker will post 1.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FL. Quarry LP purchased a new position in shares of Foot Locker during the 2nd quarter valued at approximately $31,000. Fifth Third Bancorp increased its stake in shares of Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after acquiring an additional 733 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock worth $40,000 after acquiring an additional 985 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Foot Locker during the 2nd quarter worth about $43,000. Finally, nVerses Capital LLC acquired a new stake in shares of Foot Locker during the 3rd quarter worth about $47,000.

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.