Foot Locker (NYSE:FL) Price Target Lowered to $20.00 at Morgan Stanley

Foot Locker (NYSE:FL - Get Free Report) had its price target cut by equities research analysts at Morgan Stanley from $26.00 to $20.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the athletic footwear retailer's stock. Morgan Stanley's price objective points to a potential downside of 14.09% from the company's current price.

FL has been the subject of several other research reports. Barclays lowered their target price on shares of Foot Locker from $26.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, March 7th. Citigroup upgraded shares of Foot Locker from a "sell" rating to a "neutral" rating and increased their price target for the stock from $19.00 to $24.00 in a research note on Friday, March 22nd. UBS Group upgraded shares of Foot Locker from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $12.00 to $23.00 in a research report on Monday, March 11th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $28.00 price objective (down previously from $38.00) on shares of Foot Locker in a report on Thursday, March 7th. Finally, StockNews.com downgraded Foot Locker from a "hold" rating to a "sell" rating in a research note on Tuesday, April 30th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $24.56.

Foot Locker Price Performance

NYSE:FL traded up $1.47 during trading hours on Monday, hitting $23.28. 4,910,490 shares of the stock were exchanged, compared to its average volume of 3,613,022. The company has a market cap of $2.20 billion, a P/E ratio of -6.65, a P/E/G ratio of 0.52 and a beta of 1.50. The firm's fifty day moving average price is $25.07 and its 200 day moving average price is $26.40. Foot Locker has a 52-week low of $14.84 and a 52-week high of $42.19. The company has a current ratio of 1.72, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL - Get Free Report) last released its earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.04. The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.28 billion. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 earnings per share. As a group, equities research analysts anticipate that Foot Locker will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

Institutional investors and hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund increased its position in Foot Locker by 1.1% in the fourth quarter. New York State Common Retirement Fund now owns 33,635 shares of the athletic footwear retailer's stock worth $1,048,000 after buying an additional 353 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Foot Locker by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 26,662 shares of the athletic footwear retailer's stock worth $831,000 after acquiring an additional 358 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of Foot Locker by 0.9% in the fourth quarter. Yousif Capital Management LLC now owns 44,686 shares of the athletic footwear retailer's stock valued at $1,392,000 after acquiring an additional 380 shares in the last quarter. CWM LLC lifted its holdings in shares of Foot Locker by 26.7% in the fourth quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer's stock valued at $57,000 after buying an additional 387 shares during the period. Finally, Signaturefd LLC grew its holdings in Foot Locker by 10.0% during the fourth quarter. Signaturefd LLC now owns 5,799 shares of the athletic footwear retailer's stock worth $181,000 after acquiring an additional 527 shares during the period.

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.