Foot Locker (NYSE:FL) Reaches New 1-Year Low – Should You Sell?

Foot Locker, Inc. (NYSE:FL) hit a new 52-week low on Friday . The company traded as low as $14.34 and last traded at $14.44, with a volume of 1552598 shares. The stock had previously closed at $15.27.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FL. Robert W. Baird decreased their price target on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Guggenheim lowered their target price on Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price target on shares of Foot Locker in a research note on Wednesday, March 5th. Barclays set a $24.00 price objective on Foot Locker in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, January 24th. 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, Foot Locker currently has a consensus rating of “Hold” and an average price target of $22.81.

Foot Locker Price Performance

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 company’s 50-day moving average price is $18.15 and its 200-day moving average price is $21.67. The company has a market cap of $1.38 billion, a P/E ratio of -3.22, a P/E/G ratio of 0.53 and a beta of 1.55.

Foot Locker (NYSE:FL) last released its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $2.25 billion during 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 company’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. As a group, sell-side analysts predict that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

Several hedge funds have recently made changes to their positions in the business. Moody National Bank Trust Division acquired a new position in Foot Locker during the fourth quarter worth $610,000. Geode Capital Management LLC boosted its stake in shares of Foot Locker by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after buying an additional 25,394 shares during the last quarter. Allspring Global Investments Holdings LLC grew 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 valued at $115,365,000 after acquiring an additional 2,500,396 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Foot Locker by 198.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,876 shares of the athletic footwear retailer’s stock valued at $63,000 after acquiring an additional 1,911 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Foot Locker by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock worth $28,775,000 after acquiring an additional 38,318 shares in the last quarter.

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.