Robert W. Baird Issues Pessimistic Forecast for Foot Locker (NYSE:FL) Stock Price

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

Several other equities analysts also recently issued reports on FL. Gordon Haskett assumed coverage on shares of Foot Locker in a research note on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price objective for the company. Evercore ISI dropped their price target on Foot Locker from $38.00 to $32.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. JPMorgan Chase & Co. cut their price target on Foot Locker from $27.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday. Barclays raised Foot Locker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $27.00 to $34.00 in a report on Thursday, August 29th. Finally, Jefferies Financial Group cut their target price on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Foot Locker presently has an average rating of “Hold” and an average price target of $25.29.

Foot Locker Stock Up 3.9 %

FL stock opened at $22.00 on Thursday. Foot Locker has a fifty-two week low of $19.33 and a fifty-two week high of $35.60. The company’s 50 day moving average price is $23.96 and its 200 day moving average price is $25.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.67. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -4.92, a PEG ratio of 0.64 and a beta of 1.46.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Foot Locker will post 1.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

A number of large investors have recently added to or reduced their stakes in FL. Quarry LP acquired a new stake in Foot Locker during the 2nd quarter valued at $31,000. Fifth Third Bancorp boosted its stake in shares of Foot Locker by 116.0% during the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after acquiring an additional 733 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Foot Locker by 156.1% during 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 acquiring an additional 985 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Foot Locker during the 2nd quarter worth about $43,000. Finally, nVerses Capital LLC acquired a new position in Foot Locker in the 3rd quarter valued at about $47,000.

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.