Foot Locker (NYSE:FL) Sets New 52-Week Low After Analyst Downgrade

Foot Locker, Inc. (NYSE:FL) reached a new 52-week low during trading on Tuesday after Evercore ISI lowered their price target on the stock from $30.00 to $22.00. Evercore ISI currently has an outperform rating on the stock. Foot Locker traded as low as $17.01 and last traded at $17.28, with a volume of 529095 shares changing hands. The stock had previously closed at $17.88.

FL has been the subject of a number of other reports. Barclays reduced their price target on shares of Foot Locker from $34.00 to $29.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Guggenheim decreased their target price on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Robert W. Baird decreased their target price on Foot Locker from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. UBS Group decreased their price target on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Finally, Needham & Company LLC reduced their price objective on Foot Locker from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Foot Locker presently has a consensus rating of “Hold” and an average target price of $24.35.

Hedge Funds Weigh In On Foot Locker

Large investors have recently added to or reduced their stakes in the company. Moody National Bank Trust Division acquired a new position in shares of Foot Locker in the fourth quarter valued at $610,000. Geode Capital Management LLC raised its stake in shares of Foot Locker by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after buying an additional 25,394 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Foot Locker in the 3rd quarter valued at $829,000. Allspring Global Investments Holdings LLC raised its stake 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 buying an additional 2,500,396 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Foot Locker in the 3rd quarter valued at $793,000.

Foot Locker Price Performance

The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -3.85, a price-to-earnings-growth ratio of 0.53 and a beta of 1.48. The company’s 50-day moving average is $19.98 and its 200-day moving average is $23.37.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.01 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS. Equities research analysts expect that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

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.