Foot Locker (NYSE:FL) PT Lowered to $27.00

Foot Locker (NYSE:FL) had its price objective reduced by equities research analysts at Robert W. Baird from $35.00 to $27.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the athletic footwear retailer’s stock. Robert W. Baird’s price target would suggest a potential downside of 1.75% from the stock’s current price.

A number of other research analysts have also recently weighed in on FL. StockNews.com cut shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Morgan Stanley cut Foot Locker from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $24.00 to $18.00 in a research note on Thursday, July 18th. Evercore ISI raised their price target on Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, August 26th. Citigroup boosted their price objective on Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $30.00 target price on shares of Foot Locker in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Foot Locker currently has a consensus rating of “Hold” and a consensus price target of $25.87.

Foot Locker Stock Up 0.5 %

Shares of NYSE FL opened at $27.48 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. Foot Locker has a 12-month low of $16.68 and a 12-month high of $35.60. The firm’s 50-day moving average price is $28.65 and its 200-day moving average price is $25.62. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -7.25, a P/E/G ratio of 0.66 and a beta of 1.44.

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

Insider Buying and Selling

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.93, for a total transaction of $8,129,955.98. Following the sale, the insider now owns 11,146,292 shares of the company’s stock, valued at approximately $367,047,395.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 787,566 shares of company stock valued at $26,090,866 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Foot Locker

A number of institutional investors have recently modified their holdings of FL. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Foot Locker during the second quarter valued at approximately $61,000. Dana Investment Advisors Inc. increased its position in shares of Foot Locker by 34.3% during the second quarter. Dana Investment Advisors Inc. now owns 115,480 shares of the athletic footwear retailer’s stock worth $2,878,000 after purchasing an additional 29,522 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Foot Locker during the 2nd quarter valued at $10,005,000. Quarry LP acquired a new stake in shares of Foot Locker in the 2nd quarter worth $31,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Foot Locker by 156.1% during the 2nd 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.

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.