Foot Locker (NYSE:FL) Price Target Cut to $27.00 by Analysts at Robert W. Baird

Foot Locker (NYSE:FL) had its price objective reduced by Robert W. Baird from $35.00 to $27.00 in a research report report published on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the athletic footwear retailer’s stock.

Several other equities analysts have also issued reports on the company. Wedbush reaffirmed a neutral rating and set a $25.00 price target on shares of Foot Locker in a research note on Wednesday, June 12th. Piper Sandler reiterated a neutral rating and issued a $30.00 price objective on shares of Foot Locker in a report on Friday, August 23rd. Barclays raised Foot Locker from an equal weight rating to an overweight rating and upped their price target for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. StockNews.com lowered shares of Foot Locker from a hold rating to a sell rating in a report on Friday, September 20th. Finally, Morgan Stanley lowered Foot Locker from an equal weight rating to an underweight rating and reduced their target price for the stock from $24.00 to $18.00 in a report on Thursday, July 18th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Foot Locker presently has an average rating of Hold and a consensus price target of $25.87.

Foot Locker Stock Up 0.3 %

Shares of FL stock opened at $26.41 on Wednesday. Foot Locker has a one year low of $16.73 and a one year high of $35.60. The stock has a market cap of $2.50 billion, a P/E ratio of -6.97, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. The stock has a fifty day moving average price of $28.69 and a 200 day moving average price of $25.65.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Analysts predict that Foot Locker will post 1.51 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $32.90, for a total value of $49,350.00. Following the transaction, the insider now owns 11,402,353 shares of the company’s stock, valued at $375,137,413.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 787,566 shares of company stock valued at $26,090,866. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Foot Locker

Several large investors have recently modified their holdings of FL. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Foot Locker by 3.1% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock valued at $355,000 after purchasing an additional 431 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Foot Locker by 1.2% during the second quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock worth $1,035,000 after acquiring an additional 483 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Foot Locker by 2.2% in the second quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock worth $593,000 after acquiring an additional 518 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Foot Locker by 2.5% in the second quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock worth $690,000 after acquiring an additional 667 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after purchasing an additional 733 shares in the last quarter.

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.