Foot Locker (NYSE:FL) Trading Down 6.6% – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FL shares. Robert W. Baird dropped their price target on Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. The Goldman Sachs Group decreased their price target on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating for the company in a research note on Thursday, December 5th. Morgan Stanley dropped their price objective on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, December 6th. UBS Group cut their price target on Foot Locker from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Finally, Williams Trading raised Foot Locker from a “sell” rating to a “hold” rating and increased their price objective for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.81.

Foot Locker Stock Down 1.0 %

The stock has a 50 day moving average price of $19.39 and a 200 day moving average price of $22.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The company has a market capitalization of $1.47 billion, a P/E ratio of -3.43, a PEG 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.32 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 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. Equities research analysts forecast that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

Several hedge funds have recently bought and sold shares of the stock. Moody National Bank Trust Division bought a new stake in Foot Locker during the fourth quarter worth about $610,000. Geode Capital Management LLC grew its position in Foot Locker by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after acquiring an additional 25,394 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Foot Locker during the third quarter worth approximately $829,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Foot Locker by 88.6% in the 4th 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. Finally, Versor Investments LP purchased a new stake in shares of Foot Locker in the 3rd quarter valued at $793,000.

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.