Foot Locker (NYSE:FL) Sets New 52-Week Low – What’s Next?

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

Analyst Ratings Changes

FL has been the topic of several research reports. UBS Group dropped their price objective on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday. Piper Sandler dropped their price target on Foot Locker from $23.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Guggenheim lowered their target price on Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Finally, Morgan Stanley reduced their price target on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, December 6th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.81.

Foot Locker Trading Down 9.2 %

The stock has a market capitalization of $1.61 billion, a PE ratio of -3.76, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $19.72 and a 200-day moving average price of $23.07.

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

Institutional Trading of Foot Locker

A number of large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its stake in shares of Foot Locker by 173.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 112,028 shares of the athletic footwear retailer’s stock worth $2,438,000 after acquiring an additional 71,083 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Foot Locker by 17.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,466 shares of the athletic footwear retailer’s stock valued at $5,733,000 after purchasing an additional 39,232 shares during the last quarter. Voloridge Investment Management LLC boosted its position in Foot Locker by 66.8% during the fourth quarter. Voloridge Investment Management LLC now owns 737,299 shares of the athletic footwear retailer’s stock worth $16,044,000 after purchasing an additional 295,243 shares during the period. Vision One Management Partners LP purchased a new position in shares of Foot Locker in the fourth quarter worth about $1,205,000. Finally, Twinbeech Capital LP bought a new stake in shares of Foot Locker in the fourth quarter valued at approximately $5,715,000.

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.