Evercore ISI Lowers Foot Locker (NYSE:FL) Price Target to $15.00

by · The Markets Daily

Foot Locker (NYSE:FL – Get Free Report) had its price target decreased by Evercore ISI from $22.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the athletic footwear retailer’s stock. Evercore ISI’s price objective would suggest a potential upside of 32.10% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Barclays set a $24.00 price target on Foot Locker in a research report on Wednesday, March 5th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 target price on shares of Foot Locker in a report on Wednesday, March 5th. Robert W. Baird decreased their target price on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Piper Sandler dropped their price target on shares of Foot Locker from $19.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, UBS Group decreased their price objective on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.94.

View Our Latest Stock Report on Foot Locker

Foot Locker Stock Performance

Shares of NYSE:FL traded down $1.03 during midday trading on Friday, reaching $11.36. The company’s stock had a trading volume of 1,453,097 shares, compared to its average volume of 3,410,403. 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 stock has a fifty day moving average of $16.57 and a 200 day moving average of $20.63. Foot Locker has a twelve month low of $11.16 and a twelve month high of $33.94. The firm has a market capitalization of $1.08 billion, a PE ratio of -2.51, a P/E/G ratio of 0.53 and a beta of 1.41.

Foot Locker (NYSE:FL – Get Free Report) last posted its quarterly 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. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.32 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The firm’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 earnings per share. On average, equities analysts expect that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Foot Locker by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 10,505,006 shares of the athletic footwear retailer’s stock valued at $228,589,000 after acquiring an additional 210,832 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Foot Locker by 88.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock valued at $115,365,000 after purchasing an additional 2,500,396 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Foot Locker by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after purchasing an additional 25,394 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Foot Locker by 67.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock worth $41,483,000 after purchasing an additional 770,932 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Foot Locker by 5.2% during the fourth quarter. American Century Companies Inc. now owns 1,659,206 shares of the athletic footwear retailer’s stock worth $36,104,000 after buying an additional 81,814 shares in the last quarter.

About Foot Locker

(Get Free Report)

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.

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