Foot Locker (NYSE:FL) Shares Down 6.6% – Time to Sell?

Foot Locker, Inc. (NYSE:FL)’s stock price was down 6.6% during trading on Tuesday . The company traded as low as $16.01 and last traded at $16.04. Approximately 973,943 shares were traded during trading, a decline of 70% from the average daily volume of 3,259,195 shares. The stock had previously closed at $17.17.

Analysts Set New Price Targets

FL has been the topic of several recent analyst reports. Jefferies Financial Group cut their price objective on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Williams Trading raised Foot Locker from a “sell” rating to a “hold” rating and raised their price objective for the company from $17.00 to $21.00 in a report on Wednesday, November 27th. Guggenheim lowered their price objective on Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Evercore ISI cut their price objective on shares of Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, Robert W. Baird dropped their target price on Foot Locker from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, March 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.81.

Foot Locker Stock Performance

The stock has a fifty day moving average of $19.62 and a 200-day moving average of $22.96. 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 $1.54 billion, a PE ratio of -3.59, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. Equities 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 bought and sold shares of FL. Vanguard Group Inc. raised its stake in Foot Locker by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 10,505,006 shares of the athletic footwear retailer’s stock worth $228,589,000 after acquiring an additional 210,832 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Foot Locker by 88.6% during 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 purchasing an additional 2,500,396 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Foot Locker by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after purchasing an additional 25,394 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Foot Locker by 67.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock valued at $41,483,000 after purchasing an additional 770,932 shares during the period. Finally, American Century Companies Inc. increased its position in Foot Locker by 5.2% during the fourth quarter. American Century Companies Inc. now owns 1,659,206 shares of the athletic footwear retailer’s stock worth $36,104,000 after buying an additional 81,814 shares during the period.

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.