JPMorgan Chase & Co. Cuts Foot Locker (NYSE:FL) Price Target to $20.00

Foot Locker (NYSE:FL) had its target price reduced by JPMorgan Chase & Co. from $23.00 to $20.00 in a report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the athletic footwear retailer’s stock.

A number of other equities research analysts have also recently weighed in on FL. Barclays cut their price objective on shares of Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Guggenheim dropped their price target on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Needham & Company LLC decreased their price objective on shares of Foot Locker from $25.00 to $24.00 and set a “buy” rating for the company in a report on Friday. Williams Trading upgraded shares of Foot Locker from a “sell” rating to a “hold” rating and raised their price objective for the company from $17.00 to $21.00 in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group cut their target price on Foot Locker from $25.00 to $22.00 and set a “sell” rating for the company in a research report on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.94.

Foot Locker Price Performance

NYSE FL opened at $20.90 on Friday. The company has a 50-day moving average price of $22.09 and a two-hundred day moving average price of $25.05. Foot Locker has a 52 week low of $19.33 and a 52 week high of $35.60. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -4.63, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last issued its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.01 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share. Analysts forecast that Foot Locker will post 1.23 EPS for the current year.

Institutional Trading of Foot Locker

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of Foot Locker in the second quarter worth about $31,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after acquiring an additional 985 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Foot Locker in the 3rd quarter valued at approximately $47,000. R Squared Ltd acquired a new position in Foot Locker in the 4th quarter worth approximately $50,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Foot Locker during the 3rd quarter worth approximately $58,000.

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.