Robert W. Baird Raises Foot Locker (NYSE:FL) Price Target to $24.00

Foot Locker (NYSE:FL) had its price target hoisted by equities researchers at Robert W. Baird from $14.00 to $24.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the athletic footwear retailer’s stock. Robert W. Baird’s price objective suggests a potential upside of 0.69% from the stock’s previous close.

A number of other brokerages have also recently weighed in on FL. Citigroup cut shares of Foot Locker from a “neutral” rating to a “mixed” rating in a research report on Tuesday, May 6th. UBS Group dropped their price objective on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Morgan Stanley cut their price objective on Foot Locker from $16.00 to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 6th. Needham & Company LLC reaffirmed a “hold” rating and issued a $24.00 price target on shares of Foot Locker in a research report on Thursday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $20.00 target price on shares of Foot Locker in a report on Thursday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.19.

Foot Locker Stock Performance

NYSE FL opened at $23.84 on Friday. Foot Locker has a fifty-two week low of $11.00 and a fifty-two week high of $33.94. The firm has a market capitalization of $2.27 billion, a P/E ratio of -5.28, a price-to-earnings-growth ratio of 0.53 and a beta of 1.42. The stock’s fifty day moving average is $13.73 and its two-hundred day moving average is $18.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new position in Foot Locker during the fourth quarter worth $5,473,000. Allspring Global Investments Holdings LLC grew its holdings in Foot Locker by 88.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock valued at $115,365,000 after purchasing an additional 2,500,396 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Foot Locker by 198.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,876 shares of the athletic footwear retailer’s stock worth $63,000 after acquiring an additional 1,911 shares during the last quarter. Sei Investments Co. raised its position in shares of Foot Locker by 140.8% in the 4th quarter. Sei Investments Co. now owns 412,988 shares of the athletic footwear retailer’s stock valued at $8,987,000 after purchasing an additional 241,504 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Foot Locker by 8.0% in the 4th quarter. Empowered Funds LLC now owns 416,498 shares of the athletic footwear retailer’s stock worth $9,063,000 after purchasing an additional 30,977 shares during the last quarter.

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.