Foot Locker (NYSE:FL) Reaches New 1-Year Low – Should You Sell?

Foot Locker, Inc. (NYSE:FL)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $17.88 and last traded at $17.81, with a volume of 292346 shares trading hands. The stock had previously closed at $18.20.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FL shares. Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and increased their target price for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Guggenheim cut their price objective on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research 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 dropped their price target on Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Finally, Piper Sandler reduced their price objective on Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Foot Locker presently has an average rating of “Hold” and a consensus target price of $24.94.

Foot Locker Stock Down 1.9 %

The stock has a 50-day moving average of $20.44 and a 200 day moving average of $23.88. The company has a market capitalization of $1.67 billion, a PE ratio of -3.91, a P/E/G ratio of 0.53 and a beta of 1.48. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last released its quarterly earnings data 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). The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. Foot Locker’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share. Sell-side analysts anticipate that Foot Locker, Inc. will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

A number of large investors have recently made changes to their positions in FL. Vanguard Group Inc. lifted its holdings 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 worth $228,589,000 after purchasing an additional 210,832 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 during the period. Geode Capital Management LLC grew its stake in Foot Locker by 1.3% during 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 acquiring an additional 25,394 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings 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 acquiring an additional 770,932 shares during the period. Finally, American Century Companies Inc. increased its holdings in Foot Locker by 5.2% during the 4th quarter. American Century Companies Inc. now owns 1,659,206 shares of the athletic footwear retailer’s stock worth $36,104,000 after acquiring an additional 81,814 shares during the period.

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.