Foot Locker (NYSE:FL) Price Target Lowered to $14.00 at Morgan Stanley

Foot Locker (NYSE:FL) had its target price cut by Morgan Stanley from $16.00 to $14.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an underweight rating on the athletic footwear retailer’s stock.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI decreased their price objective on shares of Foot Locker from $22.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Piper Sandler lowered their price objective on Foot Locker from $19.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. StockNews.com lowered Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. lowered their target price on Foot Locker from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Monday, April 14th. Finally, The Goldman Sachs Group cut their price target on Foot Locker from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, April 22nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Foot Locker currently has a consensus rating of “Hold” and a consensus target price of $21.25.

Foot Locker Trading Down 2.7 %

Shares of Foot Locker stock opened at $11.71 on Tuesday. The firm has a market capitalization of $1.12 billion, a PE ratio of -2.60, a price-to-earnings-growth ratio of 0.53 and a beta of 1.42. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $14.07 and its 200 day moving average is $19.07. Foot Locker has a 1 year low of $11.00 and a 1 year high of $33.94.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities research analysts forecast that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of Foot Locker

Several institutional investors and hedge funds have recently modified their holdings of FL. Harbour Investments Inc. grew its holdings in Foot Locker by 81.6% during 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 in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Foot Locker in the 4th quarter worth $32,000. GAMMA Investing LLC raised its holdings in shares of Foot Locker by 250.6% in the first 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 during the last quarter. R Squared Ltd bought a new position in shares of Foot Locker during the fourth quarter valued at about $50,000. Finally, Sterling Capital Management LLC boosted its holdings in 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 worth $57,000 after purchasing an additional 2,343 shares during 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.