Piper Sandler Lowers Foot Locker (NYSE:FL) Price Target to $19.00

Foot Locker (NYSE:FL) had its price target decreased by research analysts at Piper Sandler from $23.00 to $19.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the athletic footwear retailer’s stock. Piper Sandler’s price target points to a potential upside of 4.14% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. Evercore ISI lowered their price target on shares of Foot Locker from $30.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday. Robert W. Baird dropped their target price on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday. UBS Group lowered their price objective on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price objective on shares of Foot Locker in a research report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $24.00 price objective on shares of Foot Locker in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.41.

Foot Locker Stock Performance

Shares of FL stock opened at $18.25 on Thursday. The company has a 50 day moving average price of $19.91 and a 200-day moving average price of $23.33. Foot Locker has a 52 week low of $16.92 and a 52 week high of $33.94. The firm has a market capitalization of $1.73 billion, a PE ratio of -4.05, a P/E/G ratio of 0.53 and a beta of 1.55. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15.

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

Institutional Investors Weigh In On Foot Locker

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in Foot Locker by 88.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock worth $115,365,000 after buying an additional 2,500,396 shares during the period. Cramer Rosenthal Mcglynn LLC purchased a new position in Foot Locker in the 4th quarter worth about $34,835,000. Cooper Creek Partners Management LLC purchased a new position in Foot Locker in the 4th quarter worth about $30,416,000. Segall Bryant & Hamill LLC purchased a new position in Foot Locker in the 4th quarter worth about $18,640,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in Foot Locker by 67.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock worth $41,483,000 after buying an additional 770,932 shares during the period.

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.