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

Foot Locker (NYSE:FL) had its price objective lowered by Robert W. Baird from $27.00 to $24.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the athletic footwear retailer’s stock.

Several other equities research analysts have also recently commented on FL. JPMorgan Chase & Co. dropped their target price on shares of Foot Locker from $27.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday. StockNews.com cut shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Piper Sandler dropped their target price on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday. Jefferies Financial Group dropped their target price on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Barclays raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.71.

Foot Locker Trading Down 3.9 %

Shares of FL opened at $21.16 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.49. The firm has a fifty day simple moving average of $24.07 and a two-hundred day simple moving average of $25.84. Foot Locker has a twelve month low of $19.33 and a twelve month high of $35.60.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS. As a group, equities analysts predict that Foot Locker will post 1.52 earnings per share for the current fiscal year.

Institutional Trading of Foot Locker

Institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Foot Locker during the 2nd quarter valued at about $31,000. Fifth Third Bancorp boosted its holdings in shares of Foot Locker by 116.0% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after buying an additional 733 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Foot Locker by 156.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock worth $40,000 after buying an additional 985 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Foot Locker in the second quarter worth approximately $43,000. Finally, nVerses Capital LLC purchased a new position in shares of Foot Locker in the third quarter worth approximately $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.