Piper Sandler Issues Pessimistic Forecast for Foot Locker (NYSE:FL) Stock Price

Foot Locker (NYSE:FL) had its price objective dropped by analysts at Piper Sandler from $19.00 to $12.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the athletic footwear retailer’s stock. Piper Sandler’s target price points to a potential downside of 2.64% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, January 24th. Robert W. Baird decreased their price objective on Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Jefferies Financial Group reduced their target price on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Barclays set a $24.00 price target on shares of Foot Locker in a report on Wednesday, March 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $24.00 price objective on shares of Foot Locker in a research note on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.38.

Foot Locker Price Performance

FL opened at $12.33 on Friday. The stock has a market capitalization of $1.17 billion, a P/E ratio of -2.73, a P/E/G ratio of 0.53 and a beta of 1.41. The company’s 50-day simple moving average is $16.57 and its two-hundred day simple moving average is $20.63. Foot Locker has a 52-week low of $11.16 and a 52-week high of $33.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. Foot Locker’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. As a group, analysts predict that Foot Locker will post 1.23 EPS for the current year.

Institutional Investors Weigh In On Foot Locker

Large investors have recently bought and sold shares of the business. Moody National Bank Trust Division purchased a new stake in shares of Foot Locker during the 4th quarter valued at about $610,000. Geode Capital Management LLC raised its position in Foot Locker by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after purchasing an additional 25,394 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Foot Locker by 88.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock valued at $115,365,000 after purchasing an additional 2,500,396 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Foot Locker by 198.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,876 shares of the athletic footwear retailer’s stock worth $63,000 after purchasing an additional 1,911 shares during the period. Finally, Sei Investments Co. lifted its position in Foot Locker by 140.8% in the fourth quarter. Sei Investments Co. now owns 412,988 shares of the athletic footwear retailer’s stock worth $8,987,000 after buying an additional 241,504 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.