Foot Locker (NYSE:FL) Price Target Raised to $35.00 at Robert W. Baird

Foot Locker (NYSE:FL) had its target price hoisted by Robert W. Baird from $26.00 to $35.00 in a report issued on Monday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the athletic footwear retailer’s stock.

Several other equities research analysts have also recently issued reports on FL. StockNews.com cut Foot Locker from a hold rating to a sell rating in a research note on Wednesday, June 19th. Citigroup raised their target price on Foot Locker from $27.00 to $33.00 and gave the stock a neutral rating in a research note on Tuesday, August 20th. Piper Sandler reaffirmed a neutral rating and issued a $30.00 price objective on shares of Foot Locker in a research note on Friday, August 23rd. Telsey Advisory Group reaffirmed a market perform rating and issued a $27.00 price objective on shares of Foot Locker in a research note on Wednesday, August 21st. Finally, Barclays lifted their price objective on Foot Locker from $22.00 to $27.00 and gave the company an equal weight rating in a research note on Friday, May 31st. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Foot Locker currently has a consensus rating of Hold and a consensus target price of $26.40.

Foot Locker Price Performance

NYSE:FL opened at $31.30 on Monday. The stock has a 50 day moving average price of $27.59 and a 200 day moving average price of $26.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.50 and a current ratio of 1.68. The stock has a market cap of $2.96 billion, a PE ratio of -8.26, a P/E/G ratio of 0.80 and a beta of 1.46. Foot Locker has a one year low of $16.68 and a one year high of $35.60.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 4.41%. Equities research analysts expect that Foot Locker will post 1.51 EPS for the current fiscal year.

Insider Activity at Foot Locker

In related news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of Foot Locker stock in a transaction on Monday, August 26th. The stock was sold at an average price of $33.22, for a total value of $17,911,559.60. Following the completion of the transaction, the insider now directly owns 10,393,592 shares in the company, valued at $345,275,126.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders sold 787,566 shares of company stock worth $26,090,866. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Foot Locker

A number of institutional investors have recently bought and sold shares of the business. Dana Investment Advisors Inc. lifted its holdings in Foot Locker by 34.3% during the 2nd quarter. Dana Investment Advisors Inc. now owns 115,480 shares of the athletic footwear retailer’s stock worth $2,878,000 after buying an additional 29,522 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Foot Locker in the 2nd quarter valued at about $10,005,000. Quarry LP purchased a new stake in shares of Foot Locker in the 2nd quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after purchasing an additional 985 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Foot Locker by 194.3% in the 2nd quarter. Algert Global LLC now owns 111,049 shares of the athletic footwear retailer’s stock valued at $2,767,000 after purchasing an additional 73,319 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.