Foot Locker (NYSE:FL) Price Target Cut to $17.00 by Analysts at The Goldman Sachs Group

Foot Locker (NYSE:FL - Free Report) had its price objective cut by The Goldman Sachs Group from $19.00 to $17.00 in a report issued on Tuesday,Benzinga reports. They currently have a sell rating on the athletic footwear retailer's stock.

A number of other equities analysts have also recently issued reports on FL. Piper Sandler dropped their price objective on shares of Foot Locker from $19.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 target price on shares of Foot Locker in a report on Wednesday, March 5th. StockNews.com downgraded Foot Locker from a "hold" rating to a "sell" rating in a research note on Friday, April 11th. Jefferies Financial Group dropped their target price on shares of Foot Locker from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $24.00 price target on shares of Foot Locker in a report on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Foot Locker currently has an average rating of "Hold" and an average price target of $21.38.

Foot Locker Price Performance

FL stock traded down $0.26 during mid-day trading on Tuesday, hitting $11.74. The stock had a trading volume of 386,502 shares, compared to its average volume of 3,449,809. The firm has a fifty day simple moving average of $15.02 and a 200 day simple moving average of $19.74. The firm has a market capitalization of $1.12 billion, a P/E ratio of -2.61, a P/E/G ratio of 0.53 and a beta of 1.41. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. Foot Locker has a 52 week low of $11.00 and a 52 week high of $33.94.

Foot Locker (NYSE:FL - Get Free Report) last announced 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 $0.73 by $0.13. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same period last year, the firm posted $0.38 earnings per share. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, research analysts forecast that Foot Locker will post 1.23 EPS for the current year.

Institutional Investors Weigh In On Foot Locker

Several large investors have recently made changes to their positions in the business. Harbour Investments Inc. grew its position in Foot Locker by 81.6% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer's stock valued at $31,000 after buying an additional 648 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Foot Locker during the 4th quarter valued at approximately $32,000. GAMMA Investing LLC increased its stake in shares of Foot Locker by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock worth $35,000 after purchasing an additional 1,764 shares during the last quarter. R Squared Ltd bought a new stake in shares of Foot Locker in the 4th quarter worth approximately $50,000. Finally, Sterling Capital Management LLC lifted its stake in Foot Locker by 819.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer's stock valued at $57,000 after purchasing an additional 2,343 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.