Foot Locker (NYSE:FL) Trading Down 4.7% – Here’s What Happened

Foot Locker, Inc. (NYSE:FL)’s stock price fell 4.7% on Thursday . The stock traded as low as $20.13 and last traded at $19.98. 1,593,764 shares traded hands during trading, a decline of 45% from the average session volume of 2,900,906 shares. The stock had previously closed at $20.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FL shares. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Foot Locker in a research report on Wednesday, December 18th. Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and boosted their target price for the stock from $17.00 to $21.00 in a research report on Wednesday, November 27th. Barclays lowered their price objective on Foot Locker from $34.00 to $29.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Finally, Evercore ISI dropped their target price on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.18.

Foot Locker Stock 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 $1.93 billion, a P/E ratio of -4.51, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. The firm’s 50-day moving average is $22.62 and its two-hundred day moving average is $25.16.

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

Institutional Investors Weigh In On Foot Locker

Several institutional investors and hedge funds have recently added to or reduced their stakes in FL. Moody National Bank Trust Division acquired a new position in shares of Foot Locker during the 4th quarter worth about $610,000. Fiduciary Alliance LLC acquired a new position in shares of Foot Locker during the fourth quarter worth approximately $203,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Foot Locker in the third quarter valued at approximately $58,000. Virtu Financial LLC acquired a new stake in shares of Foot Locker in the third quarter worth $701,000. Finally, Neo Ivy Capital Management bought a new position in Foot Locker during the third quarter worth $2,636,000.

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.