Piper Sandler Has Lowered Expectations for Foot Locker (NYSE:FL) Stock Price

Foot Locker (NYSE:FL - Free Report) had its price target cut by Piper Sandler from $23.00 to $19.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the athletic footwear retailer's stock.

Several other equities analysts have also recently commented on FL. Barclays reduced their target price on Foot Locker from $34.00 to $29.00 and set an "overweight" rating for the company in a research report on Friday, December 6th. Telsey Advisory Group restated a "market perform" rating and issued a $24.00 price objective on shares of Foot Locker in a research report on Wednesday, March 5th. Jefferies Financial Group lowered 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 note on Wednesday, March 5th. The Goldman Sachs Group cut their price target on shares of Foot Locker from $25.00 to $22.00 and set a "sell" rating for the company in a research note on Thursday, December 5th. Finally, Morgan Stanley lowered their price objective on shares of Foot Locker from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, December 6th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Foot Locker has a consensus rating of "Hold" and an average target price of $22.81.

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Foot Locker Price Performance

FL stock traded down $1.72 during mid-day trading on Thursday, reaching $16.95. 7,458,491 shares of the company traded hands, compared to its average volume of 3,267,244. Foot Locker has a 52-week low of $16.79 and a 52-week high of $33.94. The company has a market capitalization of $1.61 billion, a P/E ratio of -3.76, a P/E/G ratio of 0.53 and a beta of 1.55. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The company has a fifty day moving average price of $19.62 and a 200-day moving average price of $22.96.

Foot Locker (NYSE:FL - Get Free Report) last posted its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share 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 business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the firm posted $0.38 EPS. Foot Locker's revenue was down 5.7% on a year-over-year basis. As a group, analysts anticipate that Foot Locker will post 1.23 earnings per share for the current year.

Institutional Trading of Foot Locker

Several hedge funds and other institutional investors have recently bought and sold shares of FL. Harbour Investments Inc. increased its stake in shares of Foot Locker by 81.6% in the fourth 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 bought a new stake in Foot Locker in the 4th quarter worth $32,000. R Squared Ltd purchased a new position in shares of Foot Locker in the fourth quarter valued at about $50,000. Sterling Capital Management LLC raised its stake in shares of Foot Locker by 819.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer's stock valued at $57,000 after acquiring an additional 2,343 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Foot Locker during the third quarter worth about $58,000.

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.