Foot Locker (NYSE:FL - Get Free Report) had its target price lowered by Morgan Stanley from $17.00 to $16.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "underweight" rating on the athletic footwear retailer's stock. Morgan Stanley's price target would indicate a potential downside of 27.99% from the stock's current price.
A number of other research firms also recently issued reports on FL. The Goldman Sachs Group decreased their price objective on shares of Foot Locker from $25.00 to $22.00 and set a "sell" rating for the company in a report on Thursday. UBS Group cut their price target on Foot Locker from $26.00 to $22.00 and set a "neutral" rating for the company in a research note on Thursday. Robert W. Baird lowered their price objective on Foot Locker from $27.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday. Guggenheim dropped their price target on shares of Foot Locker from $34.00 to $28.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Citigroup boosted their target price on shares of Foot Locker from $27.00 to $33.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $25.29.
Read Our Latest Stock Analysis on Foot Locker
Shares of FL stock traded up $1.05 on Friday, hitting $22.22. The stock had a trading volume of 2,535,962 shares, compared to its average volume of 3,361,160. Foot Locker has a 12-month low of $19.33 and a 12-month high of $35.60. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -4.92, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The business has a 50 day moving average of $23.96 and a 200 day moving average of $25.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.49.
Foot Locker (NYSE:FL - Get Free Report) last posted its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the prior year, the firm posted $0.30 EPS. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts expect that Foot Locker will post 1.52 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new position in Foot Locker during the 3rd quarter worth approximately $58,000. Virtu Financial LLC bought a new position in shares of Foot Locker in the third quarter worth approximately $701,000. Neo Ivy Capital Management purchased a new stake in Foot Locker during the 3rd quarter valued at $2,636,000. Geode Capital Management LLC grew its holdings in Foot Locker by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer's stock worth $49,319,000 after acquiring an additional 25,394 shares during the last quarter. Finally, MML Investors Services LLC purchased a new position in shares of Foot Locker in the third quarter valued at about $283,000.
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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