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

Foot Locker (NYSE:FL) had its target price cut by Jefferies Financial Group from $27.00 to $22.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a hold rating on the athletic footwear retailer’s stock.

A number of other brokerages have also weighed in on FL. Robert W. Baird cut their target price on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Barclays raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. Telsey Advisory Group cut 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. Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and lifted their target price for the company from $17.00 to $21.00 in a research note on Wednesday, November 27th. Finally, Citigroup lifted their target price on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $26.13.

Foot Locker Price Performance

FL stock opened at $22.00 on Wednesday. The firm’s 50-day moving average price is $24.15 and its two-hundred day moving average price is $25.87. Foot Locker has a 12-month low of $19.33 and a 12-month high of $35.60. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -5.68, a PEG ratio of 0.70 and a beta of 1.46. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. Foot Locker’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 EPS. As a group, equities analysts predict that Foot Locker will post 1.52 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.