Foot Locker (NYSE:FL) Shares Down 4.7% – What’s Next?

Foot Locker, Inc. (NYSE:FL)’s stock price dropped 4.7% on Thursday . The company traded as low as $20.13 and last traded at $19.98. Approximately 1,593,764 shares traded hands during trading, a decline of 45% from the average daily volume of 2,900,906 shares. The stock had previously closed at $20.97.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FL shares. Telsey Advisory Group cut their price target on Foot Locker from $30.00 to $24.00 and set a “market perform” rating for the company in a research note on Thursday, December 5th. Robert W. Baird reduced their target price on shares of Foot Locker from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and set a $25.00 price target on shares of Foot Locker in a research note on Wednesday, December 18th. Evercore ISI reduced their price objective on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating for the company in a research note on Tuesday, November 26th. Finally, Williams Trading upgraded Foot Locker from a “sell” rating to a “hold” rating and upped their target price for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.18.

Foot Locker Stock Performance

The company has a market cap of $1.94 billion, a P/E ratio of -4.53, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. The company’s fifty day moving average is $22.44 and its 200 day moving average is $25.11. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. As a group, equities analysts predict that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in Foot Locker during the 2nd quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Foot Locker by 156.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after acquiring an additional 985 shares in the last quarter. nVerses Capital LLC bought a new position in Foot Locker in the 3rd quarter worth $47,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Foot Locker in the 3rd quarter worth about $58,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Foot Locker during the 2nd quarter valued at about $61,000.

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.