Foot Locker (NYSE:FL) Reaches New 12-Month Low – Here’s What Happened

Foot Locker, Inc. (NYSE:FL)’s share price reached a new 52-week low on Friday . The stock 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.

Wall Street Analyst Weigh In

FL has been the subject of several recent analyst reports. Evercore ISI cut their target price on shares of Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Piper Sandler decreased their target price on Foot Locker from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price target on shares of Foot Locker in a report on Wednesday, March 5th. The Goldman Sachs Group decreased their price objective on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Thursday, December 5th. Finally, Morgan Stanley reduced their target price on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, December 6th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Foot Locker currently has an average rating of “Hold” and an average price target of $22.81.

Foot Locker Price Performance

The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -3.22, a P/E/G ratio of 0.53 and a beta of 1.55. The business’s 50 day simple moving average is $18.15 and its 200-day simple moving average is $21.67.

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

Institutional Trading of Foot Locker

Several institutional investors and hedge funds have recently modified their holdings of FL. Allspring Global Investments Holdings LLC lifted its holdings in shares of Foot Locker by 88.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock worth $115,365,000 after acquiring an additional 2,500,396 shares during the last quarter. Cramer Rosenthal Mcglynn LLC bought a new position in Foot Locker in the 4th quarter valued at approximately $34,835,000. Cooper Creek Partners Management LLC acquired a new stake in Foot Locker in the fourth quarter valued at approximately $30,416,000. Segall Bryant & Hamill LLC acquired a new stake in Foot Locker in the fourth quarter valued at approximately $18,640,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Foot Locker by 67.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock worth $41,483,000 after buying an additional 770,932 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.