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

Foot Locker (NYSE:FL) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $23.00 to $20.00 in a report released on Friday,Benzinga reports. The firm presently has an “underweight” rating on the athletic footwear retailer’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 5.38% from the stock’s previous close.

Several other research firms have also commented on FL. UBS Group dropped their price objective on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Guggenheim dropped their price target on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Jefferies Financial Group decreased their price objective on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. Robert W. Baird lowered their target price on shares of Foot Locker from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Finally, Telsey Advisory Group cut their price target on Foot Locker from $30.00 to $24.00 and set a “market perform” rating for the company in a research note on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $24.94.

Foot Locker Stock Up 1.4 %

NYSE:FL opened at $21.14 on Friday. The firm has a market capitalization of $2.01 billion, a P/E ratio of -4.69, a PEG ratio of 0.82 and a beta of 1.49. The company’s fifty day moving average price is $22.14 and its 200-day moving average price is $25.04. 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 current ratio of 1.67 and a quick ratio of 0.45.

Foot Locker (NYSE:FL) last released its quarterly earnings data 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 analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the business posted $0.30 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Foot Locker will post 1.23 EPS for the current year.

Institutional Investors Weigh In On Foot Locker

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in Foot Locker in the 2nd quarter valued at $10,005,000. Stifel Financial Corp grew its holdings in shares of Foot Locker by 43.3% in the third quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer’s stock valued at $23,202,000 after purchasing an additional 271,297 shares during the period. KBC Group NV grew its holdings in shares of 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 valued at $2,644,000 after purchasing an additional 119,178 shares during the period. Jacobs Levy Equity Management Inc. increased its position 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 purchasing an additional 106,402 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Foot Locker during the third quarter worth about $2,636,000.

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.