JPMorgan Chase & Co. Lowers Foot Locker (NYSE:FL) Price Target to $20.00

Foot Locker (NYSE:FL - Get Free Report) had its price objective reduced by JPMorgan Chase & Co. from $23.00 to $20.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the athletic footwear retailer's stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 3.92% from the stock's current price.

Several other equities research analysts have also recently weighed in on the company. Needham & Company LLC reduced their price target on Foot Locker from $25.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday. Williams Trading upgraded shares of Foot Locker from a "sell" rating to a "hold" rating and increased their price target for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Jefferies Financial Group dropped their price objective on shares of Foot Locker from $27.00 to $22.00 and set a "hold" rating on the stock in a research note on Wednesday, December 4th. Robert W. Baird decreased their target price on shares of Foot Locker from $27.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, December 5th. Finally, Piper Sandler dropped their price target on Foot Locker from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $24.94.

Foot Locker Trading Down 1.7 %

NYSE:FL traded down $0.37 during trading hours on Friday, reaching $20.82. The company's stock had a trading volume of 1,449,420 shares, compared to its average volume of 2,813,630. Foot Locker has a 1 year low of $19.33 and a 1 year high of $35.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The firm has a 50-day simple moving average of $22.14 and a 200-day simple moving average of $25.04. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -4.62, a PEG ratio of 0.82 and a beta of 1.49.

Foot Locker (NYSE:FL - Get Free Report) last announced its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.07). Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted $0.30 EPS. The company's revenue for the quarter was down 1.4% on a year-over-year basis. Research analysts expect that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FL. Point72 Asset Management L.P. purchased a new stake in shares of Foot Locker during the 2nd quarter valued at about $10,005,000. Stifel Financial Corp raised 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 valued at $23,202,000 after buying an additional 271,297 shares during the period. KBC Group NV lifted its position in Foot Locker by 5,148.1% in the fourth quarter. KBC Group NV now owns 121,493 shares of the athletic footwear retailer's stock worth $2,644,000 after buying an additional 119,178 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Foot Locker by 10.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer's stock worth $29,341,000 after buying an additional 106,402 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Foot Locker during the third quarter valued at $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.