Citigroup Lowers Foot Locker (NYSE:FL) Price Target to $48.00

Foot Locker (NYSE:FL – Get Rating) had its price target lowered by research analysts at Citigroup from $50.00 to $48.00 in a research note issued to investors on Friday, The Fly reports. Citigroup’s price objective would suggest a potential upside of 22.36% from the company’s current price.

Several other research analysts also recently issued reports on FL. Barclays cut their price objective on Foot Locker from $43.00 to $42.00 in a research report on Tuesday, May 2nd. Seaport Res Ptn reiterated a “neutral” rating on shares of Foot Locker in a report on Tuesday, March 14th. StockNews.com downgraded Foot Locker from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Deutsche Bank Aktiengesellschaft boosted their price target on Foot Locker from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, March 21st. Finally, Telsey Advisory Group upgraded Foot Locker from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $39.00 to $50.00 in a report on Thursday, March 16th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.15.

Foot Locker Price Performance

Shares of NYSE:FL opened at $39.23 on Friday. The business’s 50 day simple moving average is $40.81 and its 200-day simple moving average is $39.33. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 10.99 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 0.55. Foot Locker has a 12 month low of $23.85 and a 12 month high of $47.22.

Foot Locker (NYSE:FL – Get Rating) last issued its quarterly earnings data on Monday, March 20th. The athletic footwear retailer reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.45. Foot Locker had a return on equity of 14.57% and a net margin of 3.91%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm posted $1.67 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities analysts forecast that Foot Locker will post 3.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Veritable L.P. boosted its position in Foot Locker by 9.5% in the 1st quarter. Veritable L.P. now owns 6,257 shares of the athletic footwear retailer’s stock valued at $248,000 after buying an additional 541 shares during the last quarter. Stifel Financial Corp purchased a new position in Foot Locker in the 1st quarter valued at about $432,000. Perritt Capital Management Inc. boosted its position in Foot Locker by 2.3% in the 1st quarter. Perritt Capital Management Inc. now owns 13,212 shares of the athletic footwear retailer’s stock valued at $524,000 after buying an additional 300 shares during the last quarter. Bank of America Corp DE boosted its position in Foot Locker by 72.5% in the 1st quarter. Bank of America Corp DE now owns 372,612 shares of the athletic footwear retailer’s stock valued at $14,789,000 after buying an additional 156,662 shares during the last quarter. Finally, Brandywine Global Investment Management LLC boosted its position in Foot Locker by 1.4% in the 1st quarter. Brandywine Global Investment Management LLC now owns 248,425 shares of the athletic footwear retailer’s stock valued at $9,860,000 after buying an additional 3,453 shares during the last quarter. 95.06% of the stock is owned by hedge funds and other institutional investors.

Foot Locker Company Profile

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Foot Locker, Inc engages in the retail of athletic shoes and apparel. The firm uses its omni-channel capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. It operates through following segments: North America, EMEA (Europe, Middle East, and Africa, and Asia Pacific.