Foot Locker (NYSE:FL) Given New $23.00 Price Target at JPMorgan Chase & Co.

Foot Locker (NYSE:FL) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $27.00 to $23.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the athletic footwear retailer’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 4.55% from the company’s current price.

FL has been the topic of several other research reports. Jefferies Financial Group reduced their target price on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday. Robert W. Baird reduced their target price on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $27.00 to $34.00 in a report on Thursday, August 29th. Citigroup lifted their target price on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Williams Trading upgraded shares of Foot Locker from a “sell” rating to a “hold” rating and lifted their target price for the company from $17.00 to $21.00 in a report on Wednesday, November 27th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Foot Locker currently has a consensus rating of “Hold” and a consensus target price of $26.31.

Foot Locker Stock Down 9.0 %

Shares of FL opened at $22.00 on Wednesday. The firm has a market cap of $2.09 billion, a PE ratio of -5.68, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46. The company’s fifty day moving average is $24.15 and its two-hundred day moving average is $25.87. Foot Locker has a fifty-two week low of $19.33 and a fifty-two week high of $35.60. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last announced its quarterly 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). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.01 billion. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 EPS. Analysts forecast that Foot Locker will post 1.52 earnings per share for the current year.

Institutional Investors Weigh In On Foot Locker

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Foot Locker by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer’s stock worth $117,123,000 after purchasing an additional 71,152 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Foot Locker by 23.8% during the 2nd 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 buying an additional 557,489 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Foot Locker by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after buying an additional 25,394 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Foot Locker by 10.3% during 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 buying an additional 106,402 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Foot Locker by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock valued at $28,775,000 after buying an additional 38,318 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.