Jefferies Financial Group Lowers Foot Locker (NYSE:FL) Price Target to $19.00

Foot Locker (NYSE:FL) had its price target reduced by analysts at Jefferies Financial Group from $22.00 to $19.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the athletic footwear retailer’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 4.14% from the stock’s current price.

FL has been the subject of several other research reports. Guggenheim decreased their price objective on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. UBS Group decreased their price target on Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $24.00 price target on shares of Foot Locker in a report on Wednesday. Morgan Stanley reduced their price objective on Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, December 6th. Finally, Williams Trading upgraded Foot Locker from a “sell” rating to a “hold” rating and lifted their target price for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Foot Locker presently has a consensus rating of “Hold” and an average price target of $24.18.

Foot Locker Stock Up 5.0 %

FL traded up $0.88 during midday trading on Wednesday, reaching $18.25. 11,336,493 shares of the company were exchanged, compared to its average volume of 3,319,698. The company 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 1.48. Foot Locker has a one year low of $16.92 and a one year high of $33.94. The company’s fifty day moving average price is $19.98 and its 200 day moving average price is $23.37. 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 (NYSE:FL) last announced its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.14. 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 the consensus estimate of $2.32 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. Foot Locker’s revenue was down 5.7% compared to the same quarter last year. As a group, analysts expect that Foot Locker will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

Institutional investors have recently added to or reduced their stakes in the business. Moody National Bank Trust Division bought a new position in shares of Foot Locker in the fourth quarter worth approximately $610,000. Geode Capital Management LLC increased its holdings in shares of 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 worth $49,319,000 after buying an additional 25,394 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Foot Locker during the 3rd quarter valued at $829,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Foot Locker by 88.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock worth $115,365,000 after acquiring an additional 2,500,396 shares during the last quarter. Finally, Versor Investments LP purchased a new position in Foot Locker in the third quarter worth $793,000.

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.