Evercore ISI Has Lowered Expectations for Foot Locker (NYSE:FL) Stock Price

Foot Locker (NYSE:FL) had its target price lowered by Evercore ISI from $38.00 to $32.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the athletic footwear retailer’s stock. Evercore ISI’s price target would indicate a potential upside of 26.43% from the company’s current price.

A number of other research firms have also recently commented on FL. Piper Sandler reaffirmed a “neutral” rating and issued a $30.00 target price on shares of Foot Locker in a research report on Friday, August 23rd. Barclays raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $27.00 to $34.00 in a research report on Thursday, August 29th. Gordon Haskett assumed coverage on shares of Foot Locker in a research note on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target on the stock. StockNews.com lowered shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Finally, Robert W. Baird cut their target price on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.56.

Foot Locker Price Performance

Foot Locker stock opened at $25.31 on Tuesday. Foot Locker has a 52-week low of $20.47 and a 52-week high of $35.60. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -6.59, a PEG ratio of 0.72 and a beta of 1.44. The company has a fifty day simple moving average of $24.45 and a 200-day simple moving average of $25.77. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last announced its quarterly earnings results 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 firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. On average, equities analysts anticipate that Foot Locker will post 1.49 EPS for the current fiscal year.

Institutional Trading of Foot Locker

A number of hedge funds have recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC boosted its stake in Foot Locker by 3.1% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock worth $355,000 after buying an additional 431 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Foot Locker by 1.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock worth $1,035,000 after buying an additional 483 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Foot Locker by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock valued at $593,000 after purchasing an additional 518 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Foot Locker by 2.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock valued at $690,000 after purchasing an additional 667 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after purchasing an additional 733 shares in the last quarter.

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.