Guggenheim Cuts Foot Locker (NYSE:FL) Price Target to $28.00

Foot Locker (NYSE:FL) had its price target cut by Guggenheim from $34.00 to $28.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the athletic footwear retailer’s stock.

A number of other equities analysts have also recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $27.00 price objective on shares of Foot Locker in a research report on Wednesday. Robert W. Baird reduced their price objective on Foot Locker from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday. Evercore ISI dropped their target price on Foot Locker from $38.00 to $32.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. Gordon Haskett began coverage on Foot Locker in a report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target on the stock. Finally, Telsey Advisory Group dropped their price objective on shares of Foot Locker from $30.00 to $24.00 and set a “market perform” rating for the company in a report on Thursday. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Foot Locker presently has a consensus rating of “Hold” and a consensus price target of $25.29.

Foot Locker Stock Performance

Shares of NYSE:FL opened at $22.00 on Thursday. Foot Locker has a 1 year low of $19.33 and a 1 year high of $35.60. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -4.88, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.49. The company’s 50 day simple moving average is $23.87 and its 200 day simple moving average is $25.82.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.01 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. Foot Locker’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS. As a group, research analysts predict that Foot Locker will post 1.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

Several institutional investors and hedge funds have recently made changes to their positions in FL. Patriot Financial Group Insurance Agency LLC lifted its stake in Foot Locker by 3.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock valued at $355,000 after buying an additional 431 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Foot Locker by 1.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock valued at $1,035,000 after acquiring an additional 483 shares during the period. Arizona State Retirement System lifted its position in shares of Foot Locker by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock valued at $593,000 after acquiring an additional 518 shares during the period. SummerHaven Investment Management LLC boosted its stake in Foot Locker by 2.5% during the second quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock worth $690,000 after acquiring an additional 667 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Foot Locker by 116.0% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after purchasing an additional 733 shares during the period.

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.