Foot Locker (NYSE:FL) Price Target Raised to $26.00 at Robert W. Baird

Key Points

• Foot Locker's price target was raised from $24.00 to $26.00 by analysts at Robert W. Baird, suggesting a potential upside of 4.25% from its previous closing.
• The retailer reported a loss of ($0.27) EPS for the last quarter, missing the consensus estimate by $0.32, with year-over-year revenue down by 2.3%.
• Currently, Foot Locker has a consensus rating of "Hold" with analysts varying in their outlooks, with two ratings as "Buy" and twelve as "Hold".

Foot Locker (NYSE:FL - Get Free Report) had its price objective hoisted by investment analysts at Robert W. Baird from $24.00 to $26.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the athletic footwear retailer's stock. Robert W. Baird's price objective would suggest a potential upside of 4.25% from the stock's previous close.

A number of other research analysts have also recently commented on FL. Morgan Stanley reduced their price objective on Foot Locker from $16.00 to $14.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. Zacks Research upgraded Foot Locker from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Needham & Company LLC restated a "hold" rating on shares of Foot Locker in a research note on Wednesday. JPMorgan Chase & Co. upgraded Foot Locker from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $16.00 to $24.00 in a research note on Thursday, May 15th. Finally, Barclays cut Foot Locker from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 29th. Two research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Foot Locker currently has a consensus rating of "Hold" and a consensus target price of $21.33.

Foot Locker Trading Down 5.8%

FL stock traded down $1.53 during trading on Thursday, reaching $24.94. 5,168,161 shares of the stock traded hands, compared to its average volume of 4,650,862. The business's 50 day moving average price is $25.14 and its 200-day moving average price is $19.99. Foot Locker has a 52-week low of $11.00 and a 52-week high of $31.43. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.49. The firm has a market capitalization of $2.38 billion, a PE ratio of -6.61, a P/E/G ratio of 2.21 and a beta of 1.75.

Foot Locker (NYSE:FL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.32). Foot Locker had a negative net margin of 4.54% and a positive return on equity of 3.65%. The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same period last year, the firm posted ($0.05) EPS. Foot Locker's revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that Foot Locker will post 1.23 earnings per share for the current year.

Insider Activity at Foot Locker

In related news, CAO Giovanna Cipriano sold 22,383 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $24.90, for a total value of $557,336.70. Following the transaction, the chief accounting officer owned 93,895 shares in the company, valued at approximately $2,337,985.50. The trade was a 19.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.89% of the company's stock.

Institutional Trading of Foot Locker

Several hedge funds and other institutional investors have recently bought and sold shares of FL. GAMMA Investing LLC increased its holdings in Foot Locker by 250.6% in the first quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock valued at $35,000 after buying an additional 1,764 shares during the last quarter. AlphaQuest LLC bought a new position in shares of Foot Locker during the first quarter valued at approximately $59,000. Signaturefd LLC grew its holdings in shares of Foot Locker by 27.2% during the first quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer's stock valued at $65,000 after purchasing an additional 980 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Foot Locker by 100,166.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,016 shares of the athletic footwear retailer's stock valued at $85,000 after purchasing an additional 6,010 shares during the last quarter. Finally, FORA Capital LLC bought a new position in shares of Foot Locker during the first quarter valued at approximately $154,000.

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.

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