Foot Locker (NYSE:FL) Given New $20.00 Price Target at JPMorgan Chase & Co.

Foot Locker (NYSE:FL) had its price target trimmed by JPMorgan Chase & Co. from $23.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an underweight rating on the athletic footwear retailer’s stock.

A number of other research firms also recently weighed in on FL. Williams Trading raised 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 note on Wednesday, November 27th. Robert W. Baird cut their price objective on shares of Foot Locker from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Gordon Haskett started coverage on shares of Foot Locker in a research report on Monday, October 7th. They issued an “accumulate” rating and a $27.00 target price for the company. Evercore ISI cut 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. Finally, Telsey Advisory Group reduced their price objective on shares of Foot Locker from $30.00 to $24.00 and set a “market perform” rating for the company in a research note on Thursday, December 5th. Four investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.94.

Foot Locker Stock Performance

Shares of FL opened at $20.90 on Friday. The company has a market capitalization of $1.98 billion, a PE ratio of -4.63, a PEG ratio of 0.82 and a beta of 1.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The company’s 50 day moving average price is $22.09 and its 200 day moving average price is $25.05. Foot Locker has a 52 week low of $19.33 and a 52 week high of $35.60.

Foot Locker (NYSE:FL) last posted its quarterly 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 company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Research analysts expect that Foot Locker will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in shares of Foot Locker during the 2nd quarter worth approximately $1,024,000. XTX Topco Ltd lifted its holdings in shares of Foot Locker by 19.7% during the second quarter. XTX Topco Ltd now owns 11,823 shares of the athletic footwear retailer’s stock valued at $295,000 after acquiring an additional 1,946 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Foot Locker by 39.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 39,400 shares of the athletic footwear retailer’s stock valued at $982,000 after purchasing an additional 11,100 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Foot Locker by 19.0% in the 2nd quarter. Sei Investments Co. now owns 143,690 shares of the athletic footwear retailer’s stock worth $3,581,000 after purchasing an additional 22,991 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its position in shares of Foot Locker by 14.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 34,916 shares of the athletic footwear retailer’s stock worth $870,000 after purchasing an additional 4,300 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.