The Goldman Sachs Group Issues Pessimistic Forecast for Foot Locker (NYSE:FL) Stock Price

Foot Locker (NYSE:FL - Free Report) had its price target cut by The Goldman Sachs Group from $19.00 to $17.00 in a research report released on Tuesday,Benzinga reports. They currently have a sell rating on the athletic footwear retailer's stock.

Several other research analysts also recently weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $24.00 price target on shares of Foot Locker in a research note on Wednesday, March 5th. Robert W. Baird lowered their target price on shares of Foot Locker from $24.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Jefferies Financial Group cut their target price on shares of Foot Locker from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Barclays set a $24.00 price target on shares of Foot Locker in a research note on Wednesday, March 5th. Finally, UBS Group cut their price objective on Foot Locker from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Foot Locker currently has a consensus rating of "Hold" and a consensus target price of $21.38.

Foot Locker Price Performance

Shares of FL traded down $0.24 during mid-day trading on Tuesday, reaching $11.76. The stock had a trading volume of 2,517,433 shares, compared to its average volume of 3,467,497. The business has a fifty day moving average of $14.86 and a 200 day moving average of $19.64. 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 price-to-earnings ratio of -2.61, a PEG ratio of 0.53 and a beta of 1.41. Foot Locker has a 12 month low of $11.00 and a 12 month high of $33.94.

Foot Locker (NYSE:FL - Get Free Report) last issued its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.13. The company had revenue of $2.25 billion during 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%. Foot Locker's quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. Equities analysts predict that Foot Locker will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Moody National Bank Trust Division purchased a new position in Foot Locker during the 4th quarter valued at $610,000. Geode Capital Management LLC lifted its position in shares of Foot Locker by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer's stock worth $49,319,000 after purchasing an additional 25,394 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Foot Locker during the fourth quarter valued at $5,473,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Foot Locker by 88.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer's stock worth $115,365,000 after purchasing an additional 2,500,396 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Foot Locker by 198.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,876 shares of the athletic footwear retailer's stock worth $63,000 after purchasing an additional 1,911 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.