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

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

A number of other equities analysts also recently commented on FL. UBS Group cut their price objective on Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Jefferies Financial Group cut their price objective on Foot Locker from $27.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, December 4th. Robert W. Baird cut their price objective on Foot Locker from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Barclays cut their price objective on Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $24.00 price objective on shares of Foot Locker in a report on Tuesday, February 25th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.18.

Foot Locker Stock Up 5.0 %

FL opened at $18.25 on Monday. The business’s fifty day simple moving average is $19.91 and its 200 day simple moving average is $23.33. Foot Locker has a 52 week low of $16.92 and a 52 week high of $33.94. The firm has a market cap of $1.73 billion, a P/E ratio of -4.05, a PEG ratio of 0.53 and a beta of 1.55. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last released its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, topping 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 firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

A number of institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its stake in Foot Locker by 173.6% during 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 boosted its position in Foot Locker by 17.5% during the 4th 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 position in Foot Locker by 66.8% during the 4th quarter. Voloridge Investment Management LLC now owns 737,299 shares of the athletic footwear retailer’s stock worth $16,044,000 after acquiring an additional 295,243 shares during the period. Vision One Management Partners LP acquired a new position in Foot Locker during the 4th quarter worth $1,205,000. Finally, Twinbeech Capital LP acquired a new position in Foot Locker during the 4th quarter worth $5,715,000.

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.