Evercore ISI Cuts Foot Locker (NYSE:FL) Price Target to $22.00

Foot Locker (NYSE:FL) had its price objective trimmed by Evercore ISI from $30.00 to $22.00 in a research report released on Monday morning, MarketBeat reports. The firm currently has an outperform rating on the athletic footwear retailer’s stock.

FL has been the subject of several other reports. Guggenheim reduced their target price on Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, December 5th. JPMorgan Chase & Co. reduced their target price on Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, January 24th. Piper Sandler reduced their target price on Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 target price on shares of Foot Locker in a report on Tuesday, February 25th. Finally, UBS Group reduced their target price on Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Foot Locker currently has a consensus rating of “Hold” and a consensus target price of $24.18.

Foot Locker Trading Up 5.0 %

Shares of Foot Locker stock opened at $18.25 on Monday. 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 firm has a market cap of $1.73 billion, a price-to-earnings ratio of -4.05, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. The business has a fifty day simple moving average of $19.91 and a 200-day simple moving average of $23.33. Foot Locker has a fifty-two week low of $16.92 and a fifty-two week high of $33.94.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FL. Summit Investment Advisors Inc. boosted its stake in shares of Foot Locker by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer’s stock worth $190,000 after acquiring an additional 562 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Foot Locker by 81.6% during the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock worth $31,000 after acquiring an additional 648 shares in the last quarter. Chartwell Investment Partners LLC boosted its stake in shares of Foot Locker by 2.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 33,685 shares of the athletic footwear retailer’s stock worth $870,000 after acquiring an additional 782 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Foot Locker by 32.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,267 shares of the athletic footwear retailer’s stock valued at $84,000 after purchasing an additional 801 shares during the period. Finally, Foundry Partners LLC boosted its stake in Foot Locker by 8.8% during the 4th quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer’s stock valued at $278,000 after purchasing an additional 1,031 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.