Evercore ISI Lowers Foot Locker (NYSE:FL) Price Target to $32.00

Foot Locker (NYSE:FL) had its price objective reduced by Evercore ISI from $38.00 to $32.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the athletic footwear retailer’s stock.

FL has been the topic of several other reports. Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Telsey Advisory Group reissued a “market perform” rating and set a $27.00 target price on shares of Foot Locker in a research report on Wednesday, August 28th. Gordon Haskett initiated coverage on Foot Locker in a research report on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price objective for the company. Citigroup lifted their price objective on Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Robert W. Baird lowered their price objective on Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.56.

Foot Locker Stock Performance

FL opened at $25.15 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $24.32 and its two-hundred day moving average price is $25.77. The firm has a market capitalization of $2.39 billion, a P/E ratio of -6.50, a price-to-earnings-growth ratio of 0.75 and a beta of 1.44. Foot Locker has a 12-month low of $20.47 and a 12-month high of $35.60.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. On average, equities analysts forecast that Foot Locker will post 1.48 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in Foot Locker during the 2nd quarter worth about $31,000. Fifth Third Bancorp grew its stake in shares of Foot Locker by 116.0% during the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after purchasing an additional 733 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Foot Locker by 156.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after purchasing an additional 985 shares in the last quarter. Headlands Technologies LLC bought a new position in Foot Locker in the 2nd quarter worth approximately $43,000. Finally, nVerses Capital LLC acquired a new position in Foot Locker during the 3rd quarter worth $47,000.

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.