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

Foot Locker (NYSE:FL) had its price target cut by UBS Group from $26.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the athletic footwear retailer’s stock.

Several other equities analysts have also recently weighed in on FL. Telsey Advisory Group dropped their price objective on Foot Locker from $30.00 to $24.00 and set a “market perform” rating for the company in a report on Thursday. Piper Sandler dropped their price target on Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. JPMorgan Chase & Co. cut their price objective on shares of Foot Locker from $27.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday. Guggenheim decreased their target price on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday. Finally, StockNews.com cut shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Four 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 company presently has an average rating of “Hold” and a consensus target price of $25.29.

Foot Locker Price Performance

NYSE:FL opened at $22.00 on Thursday. Foot Locker has a 52 week low of $19.33 and a 52 week 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 firm’s 50-day simple moving average is $23.87 and its 200 day simple moving average is $25.80. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -4.88, a P/E/G ratio of 0.64 and a beta of 1.46.

Foot Locker (NYSE:FL) last announced 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). The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.01 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. As a group, sell-side analysts predict that Foot Locker will post 1.52 earnings per share for the current year.

Institutional Trading of Foot Locker

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

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.