Foot Locker (NYSE:FL) Price Target Cut to $20.00 by Analysts at Morgan Stanley

Foot Locker (NYSE:FL) had its target price decreased by analysts at Morgan Stanley from $26.00 to $20.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the athletic footwear retailer’s stock. Morgan Stanley’s price objective points to a potential downside of 15.29% from the company’s current price.

A number of other equities research analysts also recently issued reports on FL. Guggenheim reduced their price target on Foot Locker from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Citigroup raised Foot Locker from a “sell” rating to a “neutral” rating and boosted their price target for the company from $19.00 to $24.00 in a research note on Friday, March 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $28.00 price target (down previously from $38.00) on shares of Foot Locker in a report on Thursday, March 7th. StockNews.com lowered Foot Locker from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Finally, Barclays dropped their target price on shares of Foot Locker from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, March 7th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.56.

Foot Locker Stock Performance

Shares of NYSE FL opened at $23.61 on Monday. Foot Locker has a one year low of $14.84 and a one year high of $42.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.72 and a quick ratio of 0.55. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -6.75, a P/E/G ratio of 0.52 and a beta of 1.50. The stock’s fifty day moving average price is $24.85 and its two-hundred day moving average price is $26.41.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.28 billion. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. Foot Locker’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.97 earnings per share. On average, equities analysts forecast that Foot Locker will post 1.55 EPS for the current year.

Institutional Trading of Foot Locker

Institutional investors and hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC increased its position in shares of Foot Locker by 3,004.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock valued at $44,000 after purchasing an additional 1,352 shares during the last quarter. CWM LLC grew its position in Foot Locker by 26.7% during the fourth quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock valued at $57,000 after buying an additional 387 shares during the period. Signaturefd LLC increased its holdings in Foot Locker by 105.9% during the third quarter. Signaturefd LLC now owns 5,272 shares of the athletic footwear retailer’s stock worth $91,000 after buying an additional 2,712 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Foot Locker in the fourth quarter worth about $100,000. Finally, Sunbelt Securities Inc. purchased a new position in Foot Locker in the first quarter valued at about $100,000.

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.