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

Foot Locker (NYSE:FL) had its target price upped by Robert W. Baird from $14.00 to $24.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the athletic footwear retailer’s stock.

A number of other brokerages have also commented on FL. Barclays reissued an “equal weight” rating and set a $24.00 price target (up from $14.00) on shares of Foot Locker in a research note on Friday. JPMorgan Chase & Co. raised Foot Locker from an “underweight” rating to a “neutral” rating and increased their price target for the company from $16.00 to $24.00 in a research note on Thursday. The Goldman Sachs Group dropped their price target on Foot Locker from $19.00 to $17.00 and set a “sell” rating for the company in a research note on Tuesday, April 22nd. Citigroup lowered Foot Locker from a “neutral” rating to a “mixed” rating in a research note on Tuesday, May 6th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $20.00 price target on shares of Foot Locker in a research note on Thursday. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.19.

Foot Locker Stock Performance

NYSE FL opened at $23.84 on Friday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -5.28, a price-to-earnings-growth ratio of 0.53 and a beta of 1.42. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $13.73 and a 200-day moving average price of $18.65. Foot Locker has a twelve month low of $11.00 and a twelve month high of $33.94.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 earnings per share. As a group, equities research analysts predict that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbour Investments Inc. raised its position in Foot Locker by 81.6% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after purchasing an additional 648 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Foot Locker during the fourth quarter valued at approximately $32,000. R Squared Ltd purchased a new stake in Foot Locker during the fourth quarter valued at approximately $50,000. GAMMA Investing LLC raised its holdings in shares of Foot Locker by 250.6% in the first quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer’s stock worth $35,000 after buying an additional 1,764 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in shares of Foot Locker by 819.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock worth $57,000 after buying an additional 2,343 shares during the period.

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.