Foot Locker (NYSE:FL) Shares Gap Down on Analyst Downgrade

Foot Locker, Inc. (NYSE:FL)’s stock price gapped down before the market opened on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $23.00 to $20.00. The stock had previously closed at $21.18, but opened at $20.70. JPMorgan Chase & Co. currently has an underweight rating on the stock. Foot Locker shares last traded at $21.03, with a volume of 169,975 shares traded.

Several other research firms also recently commented on FL. Guggenheim cut their target price on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Piper Sandler cut their target price on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Morgan Stanley cut their target price on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, December 6th. Gordon Haskett assumed coverage on shares of Foot Locker in a research report on Monday, October 7th. They set an “accumulate” rating and a $27.00 target price on the stock. Finally, Needham & Company LLC lowered their price target on shares of Foot Locker from $25.00 to $24.00 and set a “buy” rating for the company in a report on Friday. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.94.

Institutional Trading of Foot Locker

A number of hedge funds and other institutional investors have recently bought and sold shares of FL. Renaissance Technologies LLC bought a new stake in Foot Locker during the 2nd quarter valued at $1,024,000. XTX Topco Ltd boosted its holdings in Foot Locker by 19.7% during the 2nd quarter. XTX Topco Ltd now owns 11,823 shares of the athletic footwear retailer’s stock worth $295,000 after acquiring an additional 1,946 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Foot Locker by 39.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 39,400 shares of the athletic footwear retailer’s stock worth $982,000 after acquiring an additional 11,100 shares during the last quarter. Sei Investments Co. boosted its holdings in Foot Locker by 19.0% during the 2nd quarter. Sei Investments Co. now owns 143,690 shares of the athletic footwear retailer’s stock worth $3,581,000 after acquiring an additional 22,991 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its holdings in Foot Locker by 14.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 34,916 shares of the athletic footwear retailer’s stock worth $870,000 after acquiring an additional 4,300 shares during the last quarter.

Foot Locker Stock Down 0.3 %

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 stock has a market capitalization of $2.00 billion, a PE ratio of -4.66, a P/E/G ratio of 0.82 and a beta of 1.49. The stock’s fifty day simple moving average is $22.14 and its 200-day simple moving average is $25.04.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The firm had revenue of $1.96 billion for 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%. Foot Locker’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. As a group, sell-side analysts forecast that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

Foot Locker Company Profile

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.