Robert W. Baird Lowers Foot Locker (NYSE:FL) Price Target to $27.00

Foot Locker (NYSE:FL) had its price objective dropped by 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 points to a potential upside of 2.54% from the stock’s current price.

Several other equities research analysts also recently weighed in on FL. Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. Evercore ISI raised their price objective on Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, August 26th. Citigroup upped their target price on Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Piper Sandler reissued a “neutral” rating and issued a $30.00 price target on shares of Foot Locker in a report on Friday, August 23rd. Finally, StockNews.com lowered Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Foot Locker currently has a consensus rating of “Hold” and an average price target of $25.87.

Foot Locker Trading Up 0.3 %

Shares of NYSE:FL opened at $26.33 on Wednesday. The company has a market capitalization of $2.50 billion, a PE ratio of -6.95, a P/E/G ratio of 0.67 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 $16.73 and a 12-month high of $35.60. The business’s fifty day simple moving average is $28.67 and its 200-day simple moving average is $25.62.

Foot Locker (NYSE:FL) last posted its earnings results 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 company had revenue of $1.90 billion for 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%. As a group, equities research analysts predict that Foot Locker will post 1.51 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $33.22, for a total transaction of $17,911,559.60. Following the completion of the transaction, the insider now directly owns 10,393,592 shares in the company, valued at $345,275,126.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 787,566 shares of company stock valued at $26,090,866 in the last ninety days. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FL. Quarry LP purchased a new position in Foot Locker in the second quarter valued at $31,000. Fifth Third Bancorp grew its position in shares of Foot Locker by 116.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after acquiring an additional 733 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of 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 valued at $40,000 after acquiring an additional 985 shares during the period. Headlands Technologies LLC acquired a new position in Foot Locker in the 2nd quarter worth about $43,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Foot Locker during the second quarter worth approximately $61,000.

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.