Foot Locker (NYSE:FL) Hits New 12-Month Low – Time to Sell?

Foot Locker, Inc. (NYSE:FL)’s share price reached a new 52-week low on Monday . The stock traded as low as $16.88 and last traded at $16.91, with a volume of 4237697 shares changing hands. The stock had previously closed at $18.66.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 target price on shares of Foot Locker in a report on Wednesday, March 5th. Guggenheim dropped their price target 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. Piper Sandler cut their price objective on Foot Locker from $23.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Jefferies Financial Group dropped their price target on Foot Locker from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Finally, UBS Group cut their target price on Foot Locker from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.81.

Foot Locker Trading Down 3.4 %

The business’s fifty day moving average price is $19.51 and its 200 day moving average price is $22.84. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -3.48, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Research analysts anticipate that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of Foot Locker

A number of hedge funds and other institutional investors have recently made changes to their positions in FL. State of New Jersey Common Pension Fund D purchased a new stake in shares of Foot Locker during the 3rd quarter valued at $1,563,000. Chartwell Investment Partners LLC lifted its position in Foot Locker by 2.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 33,685 shares of the athletic footwear retailer’s stock worth $870,000 after buying an additional 782 shares during the last quarter. Versor Investments LP bought a new position in Foot Locker during the third quarter valued at approximately $793,000. Empowered Funds LLC raised its stake in shares of Foot Locker by 5.4% during the third quarter. Empowered Funds LLC now owns 385,521 shares of the athletic footwear retailer’s stock worth $9,962,000 after acquiring an additional 19,612 shares in the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of Foot Locker by 8.9% in the 3rd quarter. Natixis Advisors LLC now owns 12,867 shares of the athletic footwear retailer’s stock worth $332,000 after acquiring an additional 1,054 shares during 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.