Jefferies Financial Group Has Lowered Expectations for Foot Locker (NYSE:FL) Stock Price

Foot Locker (NYSE:FL) had its target price lowered by equities research analysts at Jefferies Financial Group from $22.00 to $19.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the athletic footwear retailer’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 4.14% from the stock’s previous close.

Several other equities research analysts have also commented on FL. Piper Sandler dropped their price objective on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Guggenheim cut their price target on Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Morgan Stanley reduced their price objective on Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, December 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 target price on shares of Foot Locker in a report on Wednesday. Finally, Williams Trading upgraded Foot Locker from a “sell” rating to a “hold” rating and raised their price target for the company from $17.00 to $21.00 in a report on Wednesday, November 27th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.18.

Foot Locker Trading Up 5.0 %

Shares of Foot Locker stock traded up $0.88 on Wednesday, hitting $18.25. The stock had a trading volume of 11,336,493 shares, compared to its average volume of 3,319,698. The stock’s 50-day simple moving average is $19.98 and its two-hundred day simple moving average is $23.37. Foot Locker has a one year low of $16.92 and a one year high of $33.94. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -4.05, a PEG ratio of 0.53 and a beta of 1.48.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share. As a group, sell-side analysts predict that Foot Locker will post 1.23 EPS for the current year.

Institutional Trading of Foot Locker

Hedge funds have recently bought and sold shares of the company. Moody National Bank Trust Division purchased a new position in Foot Locker in the fourth quarter worth about $610,000. Geode Capital Management LLC lifted its stake in shares of Foot Locker by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after purchasing an additional 25,394 shares during the period. Intech Investment Management LLC purchased a new position in shares of Foot Locker in the third quarter worth approximately $829,000. Allspring Global Investments Holdings LLC grew its position in Foot Locker by 88.6% during the fourth 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 buying an additional 2,500,396 shares during the period. Finally, Versor Investments LP bought a new stake in Foot Locker during the third quarter valued at approximately $793,000.

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.