Evercore ISI Issues Pessimistic Forecast for Foot Locker (NYSE:FL) Stock Price

Foot Locker (NYSE:FL) had its price target reduced by research analysts at Evercore ISI from $22.00 to $15.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the athletic footwear retailer’s stock. Evercore ISI’s price target indicates a potential upside of 32.10% from the stock’s current price.

Several other brokerages have also recently weighed in on FL. Jefferies Financial Group lowered their price target on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Barclays set a $24.00 target price on Foot Locker in a report on Wednesday, March 5th. Piper Sandler cut their price target on Foot Locker from $19.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $24.00 price objective on shares of Foot Locker in a research note on Wednesday, March 5th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price objective on shares of Foot Locker in a research report on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Foot Locker has a consensus rating of “Hold” and an average target price of $21.94.

Foot Locker Stock Down 8.3 %

NYSE FL traded down $1.03 on Friday, reaching $11.36. 1,453,097 shares of the stock traded hands, compared to its average volume of 3,410,403. Foot Locker has a 12 month low of $11.16 and a 12 month high of $33.94. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -2.51, a PEG ratio of 0.53 and a beta of 1.41. The company has a fifty day moving average price of $16.57 and a 200-day moving average price of $20.63. 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 released its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.13. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, research analysts forecast that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Trading of Foot Locker

Institutional investors have recently bought and sold shares of the stock. Moody National Bank Trust Division acquired a new position in Foot Locker during the 4th quarter valued at approximately $610,000. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 25,394 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position 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 acquiring an additional 2,500,396 shares during the period. Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 1,911 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Foot Locker by 140.8% during the 4th quarter. Sei Investments Co. now owns 412,988 shares of the athletic footwear retailer’s stock worth $8,987,000 after acquiring an additional 241,504 shares during the period.

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.