Piper Sandler Cuts Foot Locker (NYSE:FL) Price Target to $12.00

Foot Locker (NYSE:FL) had its price target reduced by Piper Sandler from $19.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the athletic footwear retailer’s stock.

A number of other research firms also recently commented on FL. Robert W. Baird dropped their price target on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. cut their target price on Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, January 24th. UBS Group lowered their price target on Foot Locker from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Jefferies Financial Group cut their price objective on Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Finally, StockNews.com cut shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.94.

Foot Locker Trading Down 4.6 %

Shares of NYSE:FL opened at $11.81 on Friday. Foot Locker has a fifty-two week low of $11.16 and a fifty-two week high of $33.94. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.12 billion, a PE ratio of -2.62, a P/E/G ratio of 0.53 and a beta of 1.41. The company’s 50-day moving average price is $16.42 and its 200 day moving average price is $20.49.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, beating the consensus estimate of $0.73 by $0.13. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the firm earned $0.38 EPS. The firm’s revenue was down 5.7% compared to the same quarter last year. Sell-side analysts anticipate that Foot Locker will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Foot Locker

Institutional investors and hedge funds have recently bought and sold shares of the business. Investors Research Corp boosted its position in Foot Locker by 19.7% during the first quarter. Investors Research Corp now owns 11,529 shares of the athletic footwear retailer’s stock valued at $163,000 after purchasing an additional 1,900 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Foot Locker by 4,843.0% in the 1st quarter. GAMMA Investing LLC now owns 34,799 shares of the athletic footwear retailer’s stock valued at $491,000 after buying an additional 34,095 shares in the last quarter. Moody National Bank Trust Division increased its holdings in Foot Locker by 35.0% in the first quarter. Moody National Bank Trust Division now owns 37,867 shares of the athletic footwear retailer’s stock worth $534,000 after buying an additional 9,817 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Foot Locker by 173.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 112,028 shares of the athletic footwear retailer’s stock valued at $2,438,000 after acquiring an additional 71,083 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Foot Locker by 17.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,466 shares of the athletic footwear retailer’s stock valued at $5,733,000 after acquiring an additional 39,232 shares during 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.