Foot Locker (NYSE:FL) Shares Gap Down – Should You Sell?

Foot Locker, Inc. (NYSE:FL) shares gapped down before the market opened on Friday . The stock had previously closed at $16.05, but opened at $15.50. Foot Locker shares last traded at $15.75, with a volume of 433,515 shares trading hands.

Analyst Upgrades and Downgrades

FL has been the subject of a number of recent analyst reports. Barclays set a $24.00 target price on shares of Foot Locker in a research note on Wednesday, March 5th. Guggenheim lowered their target price on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. UBS Group lowered their target price on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. The Goldman Sachs Group lowered their price objective 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. Finally, Jefferies Financial Group lowered their price objective on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.81.

Foot Locker Trading Up 2.5 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -3.65, a P/E/G ratio of 0.53 and a beta of 1.55. The company’s fifty day moving average price is $18.79 and its 200-day moving average price is $22.21.

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

Hedge Funds Weigh In On Foot Locker

Several hedge funds have recently modified their holdings of FL. Natixis Advisors LLC increased its holdings in shares of Foot Locker by 8.9% during the third quarter. Natixis Advisors LLC now owns 12,867 shares of the athletic footwear retailer’s stock valued at $332,000 after acquiring an additional 1,054 shares in the last quarter. Quest Partners LLC acquired a new position in Foot Locker in the 3rd quarter worth approximately $358,000. Intech Investment Management LLC acquired a new position in Foot Locker in the 3rd quarter worth approximately $829,000. Landscape Capital Management L.L.C. increased its holdings in Foot Locker by 3.2% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 115,570 shares of the athletic footwear retailer’s stock worth $2,986,000 after buying an additional 3,593 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Foot Locker by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock worth $28,775,000 after buying an additional 38,318 shares during the period.

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.