Foot Locker (NYSE:FL) Trading Down 14.9% – Time to Sell?

Shares of Foot Locker, Inc. (NYSE:FL) dropped 14.9% on Thursday . The stock traded as low as $12.70 and last traded at $12.52. Approximately 1,152,298 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 3,305,900 shares. The stock had previously closed at $14.72.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FL shares. Morgan Stanley lowered 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 report on Friday, December 6th. UBS Group reduced their target price on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Piper Sandler dropped their target price on shares of Foot Locker from $23.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Needham & Company LLC reiterated a “buy” rating and issued a $24.00 price target on shares of Foot Locker in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased their target price on Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, January 24th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.81.

Foot Locker Stock Down 17.5 %

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 business has a fifty day simple moving average of $17.78 and a two-hundred day simple moving average of $21.44. The company has a market cap of $1.15 billion, a PE ratio of -2.69, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55.

Foot Locker (NYSE:FL) last posted its quarterly earnings results 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. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the business earned $0.38 earnings per share. The business’s revenue was down 5.7% compared to the same quarter last year. As a group, equities research analysts predict that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Institutional Investors Weigh In On Foot Locker

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Foot Locker by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 10,505,006 shares of the athletic footwear retailer’s stock valued at $228,589,000 after acquiring an additional 210,832 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Foot Locker by 88.6% in the fourth 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. Geode Capital Management LLC lifted its position in Foot Locker by 1.3% in 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 purchasing an additional 25,394 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Foot Locker by 67.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock worth $41,483,000 after purchasing an additional 770,932 shares during the period. Finally, American Century Companies Inc. increased its holdings in Foot Locker by 5.2% in the fourth quarter. American Century Companies Inc. now owns 1,659,206 shares of the athletic footwear retailer’s stock valued at $36,104,000 after buying an additional 81,814 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.