Foot Locker's stock price edged down 0.76% to $33.74 Monday after Susquehanna cut its rating to neutral from positive and slashed its price target to $39 from $46 previously.
Wedbush also cut its price target on Foot Locker, dropping it down to $50 from $64 previously.
The slide in Foot Locker's stock kicked off last week after the footwear chain released its second-quarter results.
Foot Locker reported quarterly earnings of 66 cents a share, minus nonrecurring expenses. While that met the estimates of analysts surveyed by Zacks Investment Research, Foot Locker's quarterly earnings fell 12% from the same period the year before, when they rang in at 75 cents a share.
Foot Locker fell short on revenue, reporting $1.7 billion for a 0.4% increase over the second quarter of 2018 but below the $1.8 billion analysts polled by Zacks had estimated.
However, after taking out the effect of foreign currency fluctuations, Foot Locker saw an increase in total sales and same-store sales of 0.8%.
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