Foot Locker (NYSE:FL) Sets New 12-Month Low – Here’s Why

Foot Locker, Inc. (NYSE:FL) hit a new 52-week low during trading on Friday . The stock traded as low as $14.34 and last traded at $14.44, with a volume of 1552598 shares. The stock had previously closed at $15.27.

Wall Street Analyst Weigh In

Several research firms have commented on FL. The Goldman Sachs Group decreased their price objective on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Thursday, December 5th. Barclays set a $24.00 price objective on Foot Locker in a report on Wednesday, March 5th. Jefferies Financial Group lowered their target price on Foot Locker from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Needham & Company LLC restated a “buy” rating and issued a $24.00 price target on shares of Foot Locker in a research note on Wednesday, March 5th. Finally, Evercore ISI lowered their price objective on Foot Locker from $30.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.81.

Foot Locker Stock Down 5.3 %

The firm has a 50 day simple moving average of $18.27 and a two-hundred day simple moving average of $21.77. The stock has a market capitalization of $1.37 billion, a P/E ratio of -3.20, a PEG ratio of 0.53 and a beta of 1.55. 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 announced its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.13. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. Foot Locker’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 EPS. On average, equities research analysts expect that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Foot Locker

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbour Investments Inc. boosted its holdings in shares of Foot Locker by 81.6% during the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after acquiring an additional 648 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Foot Locker in the 4th quarter valued at approximately $32,000. R Squared Ltd acquired a new stake in Foot Locker during the 4th quarter worth approximately $50,000. Sterling Capital Management LLC grew its holdings in Foot Locker by 819.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock worth $57,000 after acquiring an additional 2,343 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Foot Locker during the 3rd quarter worth approximately $58,000.

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.