Foot Locker (NYSE:FL) Given New $24.00 Price Target at Robert W. Baird

Foot Locker (NYSE:FL) had its price objective cut by equities researchers at Robert W. Baird from $27.00 to $24.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the athletic footwear retailer’s stock. Robert W. Baird’s price target indicates a potential upside of 9.09% from the company’s previous close.

FL has been the subject of several other reports. Telsey Advisory Group reduced their target price on Foot Locker from $30.00 to $24.00 and set a “market perform” rating for the company in a report on Thursday. Barclays raised Foot Locker from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $27.00 to $34.00 in a research note on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and issued a $27.00 price objective on shares of Foot Locker in a research note on Wednesday. Citigroup increased their price objective on Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Williams Trading raised Foot Locker from a “sell” rating to a “hold” rating and increased their price objective for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.13.

Foot Locker Trading Down 9.0 %

Shares of NYSE FL opened at $22.00 on Thursday. Foot Locker has a 12 month low of $19.33 and a 12 month high of $35.60. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -5.68, a P/E/G ratio of 0.70 and a beta of 1.46. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $24.15 and a 200-day simple moving average of $25.87.

Foot Locker (NYSE:FL) last announced its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts predict that Foot Locker will post 1.52 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in Foot Locker by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer’s stock valued at $117,123,000 after buying an additional 71,152 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Foot Locker by 23.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock valued at $72,279,000 after buying an additional 557,489 shares during the last quarter. Geode Capital Management LLC grew its holdings in Foot Locker by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after buying an additional 25,394 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Foot Locker by 10.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock valued at $29,341,000 after buying an additional 106,402 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Foot Locker by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock worth $28,775,000 after acquiring an additional 38,318 shares during the period.

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.