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

Foot Locker (NYSE:FL) had its target price decreased by Jefferies Financial Group from $27.00 to $22.00 in a research report sent to investors on Wednesday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the athletic footwear retailer’s stock.

Several other brokerages have also weighed in on FL. Needham & Company LLC reiterated a “buy” rating and set a $27.00 price objective on shares of Foot Locker in a report on Wednesday. Gordon Haskett began coverage on shares of Foot Locker in a research note on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target on the stock. Evercore ISI decreased their price target on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. Williams Trading upgraded Foot Locker from a “sell” rating to a “hold” rating and upped their price objective for the stock from $17.00 to $21.00 in a report on Wednesday, November 27th. Finally, StockNews.com cut Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.29.

Foot Locker Trading Up 3.9 %

Shares of FL opened at $22.00 on Wednesday. Foot Locker has a fifty-two week low of $19.33 and a fifty-two week high of $35.60. The company has a market capitalization of $2.09 billion, a PE ratio of -4.92, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The stock has a fifty day moving average of $23.96 and a two-hundred day moving average of $25.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.67.

Foot Locker (NYSE:FL) last released its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts forecast that Foot Locker will post 1.52 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Foot Locker by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer’s stock worth $117,123,000 after buying an additional 71,152 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Foot Locker by 23.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock worth $72,279,000 after acquiring an additional 557,489 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Foot Locker by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after acquiring an additional 25,394 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Foot Locker by 10.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock valued at $29,341,000 after purchasing an additional 106,402 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Foot Locker by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock valued at $28,775,000 after purchasing an additional 38,318 shares in the last quarter.

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.