Foot Locker (NYSE:FL) Price Target Cut to $20.00 by Analysts at Robert W. Baird

Foot Locker (NYSE:FL) had its price target decreased by Robert W. Baird from $24.00 to $20.00 in a research report released on Thursday,Benzinga reports. Robert W. Baird currently has a neutral rating on the athletic footwear retailer’s stock.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley cut their price target on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, December 6th. The Goldman Sachs Group cut their price target on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating for the company in a report on Thursday, December 5th. Guggenheim lowered their price objective on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 price objective on shares of Foot Locker in a research report on Wednesday. Finally, UBS Group lowered their price objective on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.35.

Foot Locker Trading Down 2.4 %

Shares of FL stock opened at $17.82 on Thursday. Foot Locker has a 12-month low of $16.92 and a 12-month high of $33.94. The company has a market capitalization of $1.69 billion, a P/E ratio of -3.95, a P/E/G ratio of 0.53 and a beta of 1.55. The firm has a 50-day moving average price of $19.91 and a 200 day moving average price of $23.33. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15.

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

Institutional Investors Weigh In On Foot Locker

Several institutional investors have recently modified their holdings of the business. Summit Investment Advisors Inc. lifted its stake in Foot Locker by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer’s stock valued at $190,000 after buying an additional 562 shares in the last quarter. Harbour Investments Inc. lifted its stake in Foot Locker by 81.6% in the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after buying an additional 648 shares in the last quarter. Chartwell Investment Partners LLC lifted its stake in Foot Locker by 2.4% in the third quarter. Chartwell Investment Partners LLC now owns 33,685 shares of the athletic footwear retailer’s stock valued at $870,000 after buying an additional 782 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Foot Locker by 32.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,267 shares of the athletic footwear retailer’s stock valued at $84,000 after buying an additional 801 shares in the last quarter. Finally, Foundry Partners LLC lifted its stake in Foot Locker by 8.8% in the fourth quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer’s stock valued at $278,000 after buying an additional 1,031 shares in 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.