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

Foot Locker (NYSE:FL) had its price target cut by Morgan Stanley from $26.00 to $20.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an equal weight rating on the athletic footwear retailer’s stock.

Several other research firms also recently commented on FL. StockNews.com downgraded Foot Locker from a hold rating to a sell rating in a report on Tuesday, April 30th. Bank of America reduced their price objective on shares of Foot Locker from $31.00 to $27.00 and set a neutral rating on the stock in a research note on Thursday, March 7th. Citigroup upgraded shares of Foot Locker from a sell rating to a neutral rating and raised their price target for the company from $19.00 to $24.00 in a research note on Friday, March 22nd. Guggenheim lowered their price objective on Foot Locker from $35.00 to $30.00 and set a buy rating for the company in a research note on Thursday, March 7th. Finally, Telsey Advisory Group restated a market perform rating and set a $28.00 price target (down previously from $38.00) on shares of Foot Locker in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $24.56.

Foot Locker Trading Up 1.2 %

FL traded up $0.29 during trading on Monday, reaching $23.57. 347,283 shares of the company’s stock were exchanged, compared to its average volume of 3,575,819. The company’s fifty day moving average price is $24.85 and its 200-day moving average price is $26.41. The firm has a market capitalization of $2.23 billion, a PE ratio of -6.65, a P/E/G ratio of 0.52 and a beta of 1.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 1.72. Foot Locker has a fifty-two week low of $14.84 and a fifty-two week high of $42.19.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.28 billion. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. Foot Locker’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. As a group, equities analysts forecast that Foot Locker will post 1.55 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

A number of large investors have recently bought and sold shares of the business. New York State Common Retirement Fund boosted its holdings in Foot Locker by 1.1% during the 4th quarter. New York State Common Retirement Fund now owns 33,635 shares of the athletic footwear retailer’s stock valued at $1,048,000 after acquiring an additional 353 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Foot Locker by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 26,662 shares of the athletic footwear retailer’s stock valued at $831,000 after acquiring an additional 358 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in 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 purchasing an additional 380 shares during the period. CWM LLC boosted its stake in shares of Foot Locker by 26.7% in the 4th 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 position in shares of 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 buying an additional 527 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.