Foot Locker (NYSE:FL) Given New $19.00 Price Target at Piper Sandler

Foot Locker (NYSE:FL) had its price target reduced by investment analysts at Piper Sandler from $23.00 to $19.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the athletic footwear retailer’s stock. Piper Sandler’s target price suggests a potential upside of 1.59% from the company’s previous close.

FL has been the topic of several other research reports. Guggenheim cut their price target on Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Morgan Stanley reduced their price target on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, December 6th. UBS Group lowered their price objective on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Williams Trading upgraded shares of Foot Locker from a “sell” rating to a “hold” rating and lifted their price objective for the company from $17.00 to $21.00 in a report on Wednesday, November 27th. Finally, Jefferies Financial Group decreased their target price on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday. Four 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.13.

Foot Locker Price Performance

Foot Locker stock opened at $18.70 on Thursday. The stock’s 50 day moving average price is $19.81 and its two-hundred day moving average price is $23.30. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -4.15, a PEG ratio of 0.53 and a beta of 1.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. Foot Locker has a 52-week low of $16.92 and a 52-week high of $33.94.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FL. Public Employees Retirement System of Ohio boosted its holdings in shares of Foot Locker by 173.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 112,028 shares of the athletic footwear retailer’s stock worth $2,438,000 after buying an additional 71,083 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 worth $5,733,000 after acquiring an additional 39,232 shares during the period. Voloridge Investment Management LLC boosted its stake in Foot Locker by 66.8% in the fourth quarter. Voloridge Investment Management LLC now owns 737,299 shares of the athletic footwear retailer’s stock valued at $16,044,000 after acquiring an additional 295,243 shares during the last quarter. Vision One Management Partners LP bought a new position in shares of Foot Locker during the 4th quarter valued at approximately $1,205,000. Finally, Twinbeech Capital LP purchased a new stake in shares of Foot Locker during the 4th quarter worth approximately $5,715,000.

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.