Foot Locker (NYSE:FL) Trading Down 6.6% – Should You Sell?

Foot Locker, Inc. (NYSE:FL) shares traded down 6.6% on Tuesday . The stock traded as low as $16.01 and last traded at $16.04. 973,943 shares traded hands during trading, a decline of 70% from the average session volume of 3,259,195 shares. The stock had previously closed at $17.17.

Wall Street Analyst Weigh In

FL has been the topic of a number of research reports. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price target on shares of Foot Locker in a report on Wednesday, March 5th. UBS Group dropped their target price on Foot Locker from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Williams Trading upgraded Foot Locker from a “sell” rating to a “hold” rating and upped their price target for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Robert W. Baird lowered their price objective on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Finally, Jefferies Financial Group cut their price objective on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.81.

Foot Locker Stock Down 5.6 %

The company has a market cap of $1.54 billion, a PE ratio of -3.59, a PEG ratio of 0.53 and a beta of 1.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The firm has a fifty day simple moving average of $19.62 and a 200 day simple moving average of $22.96.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the firm posted $0.38 EPS. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. Equities research analysts predict that Foot Locker, Inc. will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

Several hedge funds and other institutional investors have recently bought and sold shares of FL. Harbour Investments Inc. lifted its position in shares of Foot Locker by 81.6% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock worth $31,000 after purchasing an additional 648 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Foot Locker in the 4th quarter valued at about $32,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Foot Locker during the third quarter valued at about $58,000. R Squared Ltd purchased a new stake in shares of Foot Locker during the fourth quarter worth about $50,000. Finally, Sterling Capital Management LLC lifted its stake in shares of Foot Locker by 819.2% in the fourth 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 in the last quarter.

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.