Foot Locker (NYSE:FL) Shares Gap Down – What’s Next?

Foot Locker, Inc. (NYSE:FL) gapped down prior to trading 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and boosted their price target for the stock from $17.00 to $21.00 in a report on Wednesday, November 27th. Jefferies Financial Group cut their price target on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Needham & Company LLC reissued a “buy” rating and issued a $24.00 price target on shares of Foot Locker in a report on Wednesday, March 5th. UBS Group cut their price target on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Finally, Morgan Stanley cut their price target on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, December 6th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.81.

Foot Locker Stock Performance

The firm’s 50-day moving average price is $18.70 and its two-hundred day moving average price is $22.06. 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 stock has a market cap of $1.53 billion, a price-to-earnings ratio of -3.58, a PEG ratio of 0.53 and a beta of 1.55.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FL. Allspring Global Investments Holdings LLC lifted its position in 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 buying an additional 2,500,396 shares during the last quarter. Cramer Rosenthal Mcglynn LLC acquired a new position in Foot Locker in the fourth quarter valued at about $34,835,000. Cooper Creek Partners Management LLC acquired a new position in Foot Locker in the fourth quarter valued at about $30,416,000. Segall Bryant & Hamill LLC acquired a new position in Foot Locker in the fourth quarter valued at about $18,640,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in Foot Locker by 67.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock valued at $41,483,000 after buying an additional 770,932 shares during 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.