Citigroup Increases Foot Locker (NYSE:FL) Price Target to $33.00

Foot Locker (NYSE:FL) had its price objective boosted by stock analysts at Citigroup from $27.00 to $33.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the athletic footwear retailer’s stock. Citigroup’s target price would indicate a potential upside of 1.29% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Telsey Advisory Group reissued a “market perform” rating and set a $26.00 target price on shares of Foot Locker in a research note on Thursday, May 30th. Morgan Stanley downgraded shares of Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $24.00 to $18.00 in a research report on Thursday, July 18th. Barclays raised their target price on shares of Foot Locker from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Finally, Wedbush restated a “neutral” rating and set a $25.00 price target on shares of Foot Locker in a research report on Wednesday, June 12th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.40.

Foot Locker Trading Down 0.1 %

Shares of FL opened at $32.58 on Tuesday. The stock has a market capitalization of $3.09 billion, a P/E ratio of -8.60, a PEG ratio of 0.79 and a beta of 1.46. Foot Locker has a twelve month low of $14.84 and a twelve month high of $35.60. The company has a quick ratio of 0.50, a current ratio of 1.68 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $26.74 and a two-hundred day simple moving average of $26.07.

Foot Locker (NYSE:FL) last posted its earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $0.70 earnings per share. Foot Locker’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, research analysts anticipate that Foot Locker will post 1.52 EPS for the current year.

Institutional Investors Weigh In On Foot Locker

Institutional investors and hedge funds have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in Foot Locker in the 1st quarter worth about $3,488,000. Public Employees Retirement System of Ohio bought a new position in Foot Locker during the first quarter valued at approximately $2,194,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Foot Locker in the first quarter worth approximately $2,670,000. Quadrant Capital Group LLC grew its position in Foot Locker by 3,004.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock worth $44,000 after purchasing an additional 1,352 shares during the period. Finally, Verition Fund Management LLC raised its stake in Foot Locker by 106.0% during the 4th quarter. Verition Fund Management LLC now owns 300,696 shares of the athletic footwear retailer’s stock valued at $9,367,000 after buying an additional 154,708 shares during the last quarter.

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.