Barclays Lowers Foot Locker (NYSE:FL) Price Target to $29.00

Foot Locker (NYSE:FL) had its price objective decreased by research analysts at Barclays from $34.00 to $29.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the athletic footwear retailer’s stock. Barclays‘s price objective would indicate a potential upside of 31.82% from the company’s previous close.

FL has been the subject of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $27.00 price objective on shares of Foot Locker in a research report on Wednesday. StockNews.com lowered Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Citigroup raised their price target on Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Piper Sandler lowered their price target on Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Finally, Williams Trading upgraded Foot Locker from a “sell” rating to a “hold” rating and raised their price target for the stock from $17.00 to $21.00 in a research report on Wednesday, November 27th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.29.

Foot Locker Price Performance

NYSE:FL opened at $22.00 on Friday. The stock has a market cap of $2.09 billion, a PE ratio of -4.88, a P/E/G ratio of 0.64 and a beta of 1.46. Foot Locker has a one year low of $19.33 and a one year high of $35.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.67. The stock has a 50 day moving average price of $23.87 and a 200 day moving average price of $25.82.

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). The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share. Equities research analysts expect that Foot Locker will post 1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC raised its stake in Foot Locker by 3.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock valued at $355,000 after buying an additional 431 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Foot Locker by 1.2% in the second quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock valued at $1,035,000 after buying an additional 483 shares in the last quarter. Arizona State Retirement System raised its stake in Foot Locker by 2.2% in the second quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock valued at $593,000 after buying an additional 518 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in Foot Locker by 2.5% in the second quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock valued at $690,000 after buying an additional 667 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Foot Locker by 116.0% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after buying an additional 733 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.