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

Foot Locker (NYSE:FL) had its price objective dropped by analysts at Robert W. Baird from $24.00 to $20.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the athletic footwear retailer’s stock. Robert W. Baird’s price objective would indicate a potential upside of 9.62% from the company’s current price.

A number of other equities research analysts have also commented on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price target on shares of Foot Locker in a research report on Wednesday. The Goldman Sachs Group lowered their price objective on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating for the company in a research note on Thursday, December 5th. Barclays cut their target price on Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Morgan Stanley lowered their price target on Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $24.00 price objective on shares of Foot Locker in a report on Wednesday. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.94.

Foot Locker Stock Up 5.0 %

Shares of NYSE:FL opened at $18.25 on Thursday. The stock has a market capitalization of $1.73 billion, a P/E ratio of -4.05, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. The stock’s 50-day moving average price is $19.91 and its 200-day moving average price is $23.33. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. Foot Locker has a 12-month low of $16.92 and a 12-month high of $33.94.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. On average, equities analysts anticipate that Foot Locker will post 1.23 earnings per share for the current year.

Institutional Trading of Foot Locker

A number of hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in Foot Locker by 88.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock valued at $115,365,000 after acquiring an additional 2,500,396 shares during the period. Cramer Rosenthal Mcglynn LLC bought a new position in shares of Foot Locker during the fourth quarter valued at approximately $34,835,000. Cooper Creek Partners Management LLC purchased a new position in shares of Foot Locker during the fourth quarter valued at approximately $30,416,000. Segall Bryant & Hamill LLC bought a new stake in shares of Foot Locker in the 4th quarter worth approximately $18,640,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Foot Locker by 67.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock worth $41,483,000 after purchasing an additional 770,932 shares in 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.