Foot Locker (NYSE:FL) Sets New 1-Year Low – What’s Next?

Shares of Foot Locker, Inc. (NYSE:FL) reached a new 52-week low on Friday . The company traded as low as $14.34 and last traded at $14.44, with a volume of 1552598 shares. The stock had previously closed at $15.27.

Analyst Upgrades and Downgrades

FL has been the topic of a number of research reports. Barclays set a $24.00 target price on shares of Foot Locker in a research report on Wednesday, March 5th. Guggenheim reduced their price objective 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, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $24.00 target price on shares of Foot Locker in a research report on Wednesday, March 5th. Evercore ISI cut their price target on Foot Locker from $30.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Finally, Jefferies Financial Group decreased their price objective on Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $22.81.

Foot Locker Trading Down 5.3 %

The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -3.20, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. The business’s fifty day moving average is $18.27 and its 200 day moving average is $21.77. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the company earned $0.38 earnings per share. Foot Locker’s quarterly revenue was down 5.7% on a year-over-year basis. Equities analysts predict that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Institutional Trading of Foot Locker

A number of hedge funds and other institutional investors have recently modified their holdings of FL. Natixis Advisors LLC raised its stake in shares of Foot Locker by 8.9% during the 3rd quarter. Natixis Advisors LLC now owns 12,867 shares of the athletic footwear retailer’s stock worth $332,000 after purchasing an additional 1,054 shares in the last quarter. Intech Investment Management LLC bought a new stake in Foot Locker during the third quarter worth $829,000. Charles Schwab Investment Management Inc. grew its position in shares of Foot Locker by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock valued at $28,775,000 after acquiring an additional 38,318 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Foot Locker during the 3rd quarter worth about $282,000. Finally, Edgestream Partners L.P. raised its holdings in shares of Foot Locker by 477.2% in the 3rd quarter. Edgestream Partners L.P. now owns 117,602 shares of the athletic footwear retailer’s stock valued at $3,039,000 after purchasing an additional 97,226 shares during the period.

Foot Locker Company Profile

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.