Foot Locker (NYSE:FL) Shares Gap Down to $25.52

Foot Locker, Inc. (NYSE:FL)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $25.52, but opened at $23.81. Foot Locker shares last traded at $24.84, with a volume of 554,356 shares changing hands.

Wall Street Analysts Forecast Growth

FL has been the topic of several analyst reports. Wedbush reissued a “neutral” rating and issued a $25.00 target price on shares of Foot Locker in a research note on Wednesday, June 12th. Citigroup raised Foot Locker from a “sell” rating to a “neutral” rating and increased their target price for the company from $19.00 to $24.00 in a research note on Friday, March 22nd. StockNews.com lowered Foot Locker from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Bank of America cut their target price on Foot Locker from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Finally, Morgan Stanley increased their target price on Foot Locker from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.81.

Foot Locker Stock Performance

The company has a quick ratio of 0.50, a current ratio of 1.68 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.36 billion, a P/E ratio of -6.58, a P/E/G ratio of 0.60 and a beta of 1.47. The stock has a fifty day moving average of $23.91 and a 200-day moving average of $26.72.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Thursday, May 30th. The athletic footwear retailer reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 4.41%. Foot Locker’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. On average, research analysts anticipate that Foot Locker, Inc. will post 1.55 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC grew its stake in Foot Locker by 3,004.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock valued at $44,000 after purchasing an additional 1,352 shares in the last quarter. CWM LLC grew its stake in Foot Locker by 26.7% in the fourth quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock valued at $57,000 after purchasing an additional 387 shares in the last quarter. Covestor Ltd grew its stake in Foot Locker by 43,900.0% in the first quarter. Covestor Ltd now owns 2,200 shares of the athletic footwear retailer’s stock valued at $63,000 after purchasing an additional 2,195 shares in the last quarter. International Assets Investment Management LLC bought a new position in Foot Locker in the fourth quarter valued at approximately $100,000. Finally, Sunbelt Securities Inc. bought a new position in Foot Locker in the first quarter valued at approximately $100,000.

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.