Evercore ISI Issues Pessimistic Forecast for Foot Locker (NYSE:FL) Stock Price

Foot Locker (NYSE:FL) had its price objective lowered by equities research analysts at Evercore ISI from $22.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the athletic footwear retailer’s stock. Evercore ISI’s price target would indicate a potential upside of 27.06% from the company’s previous close.

A number of other research analysts have also commented on FL. Jefferies Financial Group decreased their price objective on Foot Locker from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Barclays set a $24.00 price target on Foot Locker in a report on Wednesday, March 5th. Robert W. Baird dropped their price objective on Foot Locker from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 target price on shares of Foot Locker in a research note on Wednesday, March 5th. Finally, StockNews.com lowered shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Friday. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.94.

Foot Locker Price Performance

Foot Locker stock opened at $11.81 on Friday. The business’s fifty day moving average is $16.42 and its two-hundred day moving average is $20.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The firm has a market cap of $1.12 billion, a P/E ratio of -2.62, a P/E/G ratio of 0.53 and a beta of 1.41. Foot Locker has a 52 week low of $11.16 and a 52 week high of $33.94.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Investors Research Corp raised its stake in shares of Foot Locker by 19.7% in the 1st quarter. Investors Research Corp now owns 11,529 shares of the athletic footwear retailer’s stock valued at $163,000 after purchasing an additional 1,900 shares during the period. GAMMA Investing LLC raised its position in Foot Locker by 4,843.0% in the 1st quarter. GAMMA Investing LLC now owns 34,799 shares of the athletic footwear retailer’s stock valued at $491,000 after buying an additional 34,095 shares during the last quarter. Moody National Bank Trust Division raised its position in Foot Locker by 35.0% in the 1st quarter. Moody National Bank Trust Division now owns 37,867 shares of the athletic footwear retailer’s stock valued at $534,000 after buying an additional 9,817 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Foot Locker by 173.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 112,028 shares of the athletic footwear retailer’s stock valued at $2,438,000 after acquiring an additional 71,083 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Foot Locker by 17.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,466 shares of the athletic footwear retailer’s stock worth $5,733,000 after acquiring an additional 39,232 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.