Foot Locker (NYSE:FL) Given New $27.00 Price Target at Robert W. Baird

Foot Locker (NYSE:FL) had its price target lowered by Robert W. Baird from $35.00 to $27.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a neutral rating on the athletic footwear retailer’s stock.

A number of other brokerages also recently commented on FL. Morgan Stanley downgraded Foot Locker from an equal weight rating to an underweight rating and reduced their price objective for the stock from $24.00 to $18.00 in a research report on Thursday, July 18th. StockNews.com downgraded Foot Locker from a hold rating to a sell rating in a report on Friday, September 20th. Telsey Advisory Group restated a market perform rating and set a $27.00 target price on shares of Foot Locker in a report on Wednesday, August 28th. Citigroup increased their price target on shares of Foot Locker from $27.00 to $33.00 and gave the company a neutral rating in a research report on Tuesday, August 20th. Finally, Evercore ISI boosted their price objective on shares of Foot Locker from $34.00 to $38.00 and gave the company an outperform rating in a report on Monday, August 26th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Foot Locker has a consensus rating of Hold and a consensus target price of $25.87.

Foot Locker Stock Up 0.3 %

FL stock opened at $26.41 on Wednesday. The firm has a market cap of $2.50 billion, a PE ratio of -6.97, a PEG ratio of 0.67 and a beta of 1.44. Foot Locker has a 1 year low of $16.73 and a 1 year high of $35.60. The company has a fifty day simple moving average of $28.69 and a 200 day simple moving average of $25.64. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last released its quarterly earnings results 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. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. Sell-side analysts anticipate that Foot Locker will post 1.51 EPS for the current fiscal year.

Insider Transactions at Foot Locker

In other news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $32.90, for a total value of $49,350.00. Following the completion of the sale, the insider now owns 11,402,353 shares of the company’s stock, valued at approximately $375,137,413.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 787,566 shares of company stock valued at $26,090,866 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Foot Locker

A number of large investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Foot Locker in the 2nd quarter valued at about $31,000. Fifth Third Bancorp raised its stake in Foot Locker by 116.0% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after buying an additional 733 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position 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 buying an additional 985 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Foot Locker during the 2nd quarter worth approximately $43,000. Finally, Covestor Ltd increased its holdings in shares of Foot Locker by 43,900.0% during the 1st quarter. Covestor Ltd now owns 2,200 shares of the athletic footwear retailer’s stock worth $63,000 after acquiring an additional 2,195 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.