Foot Locker (NYSE:FL) Hits New 12-Month Low on Analyst Downgrade

Foot Locker, Inc. (NYSE:FL) hit a new 52-week low during trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $19.00 to $16.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Foot Locker traded as low as $11.08 and last traded at $11.35, with a volume of 6163796 shares trading hands. The stock had previously closed at $11.81.

FL has been the subject of a number of other reports. StockNews.com cut shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, April 11th. Robert W. Baird dropped their target price on Foot Locker from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Piper Sandler cut their target price on shares of Foot Locker from $19.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. UBS Group cut their price target on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 price objective on shares of Foot Locker in a research note on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.69.

Institutional Trading of Foot Locker

Several hedge funds and other institutional investors have recently modified their holdings of the business. Moody National Bank Trust Division purchased a new position in shares of Foot Locker in the fourth quarter valued at $610,000. Geode Capital Management LLC boosted 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 buying an additional 25,394 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Foot Locker by 88.6% during 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 acquiring an additional 2,500,396 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Foot Locker by 198.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,876 shares of the athletic footwear retailer’s stock worth $63,000 after purchasing an additional 1,911 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Foot Locker by 140.8% in the fourth quarter. Sei Investments Co. now owns 412,988 shares of the athletic footwear retailer’s stock valued at $8,987,000 after purchasing an additional 241,504 shares in the last quarter.

Foot Locker Trading Down 0.3 %

The stock’s 50 day simple moving average is $15.97 and its 200 day simple moving average is $20.26. The firm has a market cap of $1.06 billion, a PE ratio of -2.48, a PEG ratio of 0.53 and a beta of 1.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67.

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, beating analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS. On average, sell-side analysts forecast that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

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.