Why Piper Jaffray Just Slashed Price Target on Foot Locker, Inc. (FL)

Posted August 19, 2017

Including today's unusual volume, Foot Locker, Inc.'s stock is performing at -32.71% on the year. (UA), which is trading off 3.8% to $15.65 a share, and Nike Inc. 333,117 were reported by Cornerstone Capital Management Holdings Lc. Caisse De Depot Et Placement Du Quebec, a Quebec - Canada-based fund reported 34,700 shares. Wright Investors Ser Inc holds 0.12% of its portfolio in Foot Locker, Inc. Share performance for the month is now at 0.89%. (NYSE:FL). Wellington Mngmt Grp Llp holds 136,904 shares or 0% of its portfolio.

TRADEMARK VIOLATION WARNING: This piece was reported by Stock Observer and is the property of of Stock Observer. (NYSE:FL). Impala Asset reported 540,852 shares stake. 19,391 are owned by Delta Lloyd Nv. Evercore Wealth reported 0% of its portfolio in Foot Locker, Inc. This represents a $1.24 annualized dividend and a dividend yield of 3.61%. 2,000 shares were sold by TURPIN CHERYL N, worth $152,340 on Thursday, March 2.

Calling the websites for Nike and Adidas a "contagion", Cowen says these brand sites are stripping sales from Foot Locker.

On 12/6/2016 Jarobin Gilbert Jr, Director, sold 1,000 with an average share price of $76.23 per share and the total transaction amounting to $76,230.00. (NYSE:FL) shares with value of $1.94 million were sold by PETERS LAUREN B.

If you take a look at the chart for FL, you'll notice that this stock was already in a massive downtrend heading into the quarter, with shares falling off their April high of $77.36 to just under $45.

Often that arrangement has served Foot Locker well. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the company's stock. The firm now has a $58.00 target price on the athletic footwear retailer's stock, down from their previous target price of $66.00. Additionally the company recently declared a dividend paid on Friday the 28th of July 2017. The firm has "Outperform" rating given on Friday, January 13 by RBC Capital Markets. The firm earned "Equal Weight" rating on Monday, August 24 by Morgan Stanley. Given Foot Locker's stronger consensus rating and higher probable upside, analysts clearly believe Foot Locker is more favorable than Tilly's. (NYSE:FL) on Friday, September 30 with "Neutral" rating. Iowa-based Cambridge Advsrs Inc has invested 0.01% in Foot Locker, Inc. The rating was downgraded by OTR GLobal to "Mixed" on Friday, August 12. The firm has "Outperform" rating given on Thursday, November 19 by Wells Fargo. July 17 investment analysts at Deutsche Bank left the company rating at "Buy" but lowered the price expectation from $79.00 to $72.00. (NYSE:FL) has "Buy" rating given on Monday, May 23 by Canaccord Genuity.

Several other institutional investors also recently bought and sold shares of FL. JPMorgan Chase & Co. raised its position in Foot Locker by 130.0% in the first quarter. It has underperformed by 105.81% the S&P500.

Foot Locker Inc. says it's not anxious about Amazon, but analysts say it should be. Investors measure stock performance on the basis of a company's earnings power. The Company operates through two segments: Athletic Stores and Direct-to-Customers. It has a 7.37 P/E ratio. In addition, 68 franchised Foot Locker stores were operating in the Middle East, as well as 14 franchised Runners Point stores in Germany.

But he sought to downplay Nike's recent decision to start selling products on Amazon.com Inc. (NYSE:FL) news were published by: Seekingalpha.com which released: "Stick With The Foot Locker Rally" on August 11, 2017, also Fool.com with their article: "Why Foot Locker, Inc". More interesting news about Foot Locker, Inc.

Foot Locker's net income for the company's second quarter ended July 29, 2017 was 51 million dollars or 0.39 dollar per share, compared with 127 million dollars or 0.94 dollar per share in the same period of 2016.