Foot Locker (NYSE:FL) Price Target Lowered to $29.00 at Barclays

Foot Locker (NYSE:FL - Free Report) had its target price decreased by Barclays from $34.00 to $29.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the athletic footwear retailer's stock.

A number of other analysts have also recently issued reports on the company. UBS Group cut their price objective on Foot Locker from $26.00 to $22.00 and set a "neutral" rating for the company in a research report on Thursday. Jefferies Financial Group cut their price target on Foot Locker from $27.00 to $22.00 and set a "hold" rating for the company in a report on Wednesday. Guggenheim decreased their price objective on shares of Foot Locker from $34.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday. StockNews.com cut shares of Foot Locker from a "hold" rating to a "sell" rating in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Foot Locker from $27.00 to $23.00 and set an "underweight" rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $25.29.

Foot Locker Stock Up 3.9 %

Shares of NYSE:FL traded up $0.83 during midday trading on Friday, hitting $22.00. The stock had a trading volume of 5,436,217 shares, compared to its average volume of 4,214,639. The company has a market cap of $2.09 billion, a P/E ratio of -4.88, a PEG ratio of 0.64 and a beta of 1.46. Foot Locker has a 12 month low of $19.33 and a 12 month high of $35.60. The business's 50-day simple moving average is $23.87 and its 200-day simple moving average is $25.80. The company has a quick ratio of 0.49, a current ratio of 1.67 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL - Get Free Report) last released its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. On average, sell-side analysts forecast that Foot Locker will post 1.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of Foot Locker by 23.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer's stock valued at $72,279,000 after purchasing an additional 557,489 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Foot Locker during the 2nd quarter worth approximately $10,005,000. Stifel Financial Corp grew its holdings in Foot Locker by 43.3% during the 3rd quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer's stock worth $23,202,000 after acquiring an additional 271,297 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Foot Locker by 10.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer's stock valued at $29,341,000 after acquiring an additional 106,402 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Foot Locker in the third quarter valued at about $2,636,000.

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.