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

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

A number of other brokerages have also commented on FL. Evercore ISI upped their target price on Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, August 26th. Barclays raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $27.00 to $34.00 in a report on Thursday, August 29th. Wedbush reissued a “neutral” rating and set a $25.00 target price on shares of Foot Locker in a report on Wednesday, June 12th. Morgan Stanley lowered shares of Foot Locker from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $24.00 to $18.00 in a report on Thursday, July 18th. Finally, Piper Sandler reiterated a “neutral” rating and set a $30.00 price objective on shares of Foot Locker in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.87.

Foot Locker Trading Up 0.5 %

NYSE FL opened at $27.48 on Wednesday. The stock has a market cap of $2.61 billion, a P/E ratio of -7.25, a P/E/G ratio of 0.66 and a beta of 1.44. 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 company has a fifty day simple moving average of $28.65 and a two-hundred day simple moving average of $25.62.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The company 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, analysts forecast that Foot Locker will post 1.51 earnings per share for the current year.

Insider Transactions at Foot Locker

In related news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $33.22, for a total transaction of $17,911,559.60. Following the completion of the sale, the insider now directly owns 10,393,592 shares in the company, valued at $345,275,126.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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

Several large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Foot Locker during the 2nd quarter worth approximately $61,000. Dana Investment Advisors Inc. lifted its position in 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 buying an additional 29,522 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Foot Locker during the second quarter worth $10,005,000. Quarry LP purchased a new stake in Foot Locker in the 2nd quarter valued at $31,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake 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 worth $40,000 after acquiring an additional 985 shares during 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.