Piper Sandler Lowers Foot Locker (NYSE:FL) Price Target to $12.00

Foot Locker (NYSE:FL - Free Report) had its target price lowered by Piper Sandler from $19.00 to $12.00 in a report released on Friday,Benzinga reports. The firm currently has a neutral rating on the athletic footwear retailer's stock.

Several other brokerages also recently commented on FL. Robert W. Baird lowered their price target on Foot Locker from $24.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. 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 report on Wednesday, March 5th. StockNews.com cut shares of Foot Locker from a "hold" rating to a "sell" rating in a report on Friday, April 11th. JPMorgan Chase & Co. dropped their price objective on Foot Locker from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, January 24th. Finally, UBS Group decreased their target price on Foot Locker from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $21.69.

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Foot Locker Price Performance

FL stock remained flat at $11.21 during trading hours on Friday. 1,240,600 shares of the company's stock traded hands, compared to its average volume of 3,430,693. The stock has a 50 day moving average of $16.11 and a 200 day moving average of $20.32. Foot Locker has a 12 month low of $11.03 and a 12 month high of $33.94. The stock has a market cap of $1.06 billion, a P/E ratio of -2.49, a PEG ratio of 0.53 and a beta of 1.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45.

Foot Locker (NYSE:FL - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same period in the prior year, the company posted $0.38 earnings per share. Foot Locker's revenue for the quarter was down 5.7% on a year-over-year basis. Sell-side analysts expect that Foot Locker will post 1.23 earnings per share for the current year.

Institutional Investors Weigh In On Foot Locker

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

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.