UBS Group Cuts Foot Locker (NYSE:FL) Price Target to $21.00

Foot Locker (NYSE:FL) had its price objective lowered by UBS Group from $22.00 to $21.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the athletic footwear retailer’s stock.

Several other research analysts have also recently issued reports on the stock. Morgan Stanley cut their price target on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, December 6th. Barclays cut their price target on shares of Foot Locker from $34.00 to $29.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 target price on shares of Foot Locker in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, January 24th. Finally, Piper Sandler dropped their target price on shares of Foot Locker from $23.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.35.

Foot Locker Trading Down 2.4 %

NYSE FL opened at $17.82 on Thursday. The stock has a market capitalization of $1.69 billion, a P/E ratio of -3.95, a P/E/G ratio of 0.53 and a beta of 1.55. Foot Locker has a 52-week low of $16.92 and a 52-week high of $33.94. The firm has a 50-day moving average price of $19.91 and a 200 day moving average price of $23.33. 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 posted 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 $0.73 by $0.13. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. Equities research analysts expect that Foot Locker will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Moody National Bank Trust Division purchased a new position in shares of Foot Locker during the 4th quarter worth approximately $610,000. Geode Capital Management LLC increased its stake in shares of Foot Locker by 1.3% during 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 purchasing an additional 25,394 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Foot Locker during the third quarter worth approximately $829,000. Allspring Global Investments Holdings LLC grew 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 worth $115,365,000 after acquiring an additional 2,500,396 shares during the period. Finally, Versor Investments LP purchased a new stake in Foot Locker in the 3rd quarter worth approximately $793,000.

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.