Foot Locker (NYSE:FL) Price Target Cut to $31.00

Foot Locker (NYSE:FL – Get Rating) had its price objective decreased by Barclays from $42.00 to $31.00 in a research report issued on Sunday, The Fly reports. Barclays‘s price target suggests a potential upside of 12.20% from the stock’s current price.

A number of other research firms also recently weighed in on FL. Telsey Advisory Group raised shares of Foot Locker from a “market perform” rating to an “outperform” rating and increased their target price for the company from $39.00 to $50.00 in a research report on Thursday, March 16th. Wedbush reaffirmed a “neutral” rating on shares of Foot Locker in a research report on Tuesday, March 21st. BTIG Research reduced their price objective on shares of Foot Locker from $55.00 to $53.00 in a research report on Tuesday, March 21st. Bank of America reduced their price objective on shares of Foot Locker from $48.00 to $45.00 in a research report on Tuesday, March 21st. Finally, Evercore ISI upgraded Foot Locker from an “in-line” rating to an “outperform” rating and set a $60.00 target price on the stock in a report on Tuesday, March 21st. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Foot Locker presently has a consensus rating of “Hold” and a consensus price target of $38.80.

Foot Locker Stock Performance

Foot Locker stock opened at $27.63 on Friday. The business has a 50 day moving average of $40.05 and a 200-day moving average of $39.61. Foot Locker has a 1 year low of $23.85 and a 1 year high of $47.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 0.55. The company has a market capitalization of $2.58 billion, a P/E ratio of 10.71 and a beta of 1.23.

Foot Locker (NYSE:FL – Get Rating) last released its earnings results on Friday, May 19th. The athletic footwear retailer reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.99 billion. Foot Locker had a net margin of 3.91% and a return on equity of 14.57%. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 EPS. On average, equities research analysts predict that Foot Locker will post 2.13 earnings per share for the current year.

Institutional Trading of Foot Locker

A number of large investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its position in shares of Foot Locker by 67.3% during the 1st quarter. Ameriprise Financial Inc. now owns 767,319 shares of the athletic footwear retailer’s stock valued at $30,455,000 after acquiring an additional 308,633 shares during the last quarter. New York State Common Retirement Fund lifted its position in Foot Locker by 16.1% in the 1st quarter. New York State Common Retirement Fund now owns 67,704 shares of the athletic footwear retailer’s stock worth $2,687,000 after buying an additional 9,405 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Foot Locker by 49.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 547,753 shares of the athletic footwear retailer’s stock worth $21,739,000 after buying an additional 181,978 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in Foot Locker in the 1st quarter worth approximately $56,000. Finally, State Street Corp lifted its position in Foot Locker by 1.5% in the 1st quarter. State Street Corp now owns 2,998,328 shares of the athletic footwear retailer’s stock worth $119,004,000 after buying an additional 44,845 shares during the last quarter. Institutional investors own 95.06% of the company’s stock.

About Foot Locker

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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.