Evercore ISI Cuts Foot Locker (NYSE:FL) Price Target to $32.00

Foot Locker (NYSE:FL) had its price objective lowered by Evercore ISI from $38.00 to $32.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the athletic footwear retailer’s stock.

FL has been the subject of several other reports. Citigroup increased their price objective on Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Needham & Company LLC initiated coverage on Foot Locker in a report on Friday, November 22nd. They set a “buy” rating and a $27.00 price target for the company. Barclays raised Foot Locker from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $27.00 to $34.00 in a report on Thursday, August 29th. Piper Sandler reaffirmed a “neutral” rating and set a $30.00 price target on shares of Foot Locker in a report on Friday, August 23rd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.00 price target on shares of Foot Locker in a report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.56.

Foot Locker Price Performance

FL stock opened at $25.31 on Tuesday. The company has a market capitalization of $2.40 billion, a P/E ratio of -6.54, a PEG ratio of 0.72 and a beta of 1.44. Foot Locker has a twelve month low of $20.47 and a twelve month high of $35.60. The business has a 50 day simple moving average of $24.40 and a 200-day simple moving average of $25.77. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. As a group, equities analysts anticipate that Foot Locker will post 1.48 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FL. Quarry LP purchased a new position in shares of Foot Locker in the second quarter valued at $31,000. Fifth Third Bancorp increased its position in shares of Foot Locker by 116.0% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after buying an additional 733 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Foot Locker by 156.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after buying an additional 985 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Foot Locker in the second quarter valued at $43,000. Finally, nVerses Capital LLC purchased a new position in shares of Foot Locker in the third quarter valued at $47,000.

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.