Foot Locker (NYSE:FL) Shares Gap Down – Should You Sell?

Foot Locker, Inc. (NYSE:FL) gapped down before the market opened on Friday . The stock had previously closed at $16.05, but opened at $15.50. Foot Locker shares last traded at $15.75, with a volume of 433,515 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently commented on FL. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 price objective on shares of Foot Locker in a research report on Wednesday, March 5th. Barclays set a $24.00 price target on shares of Foot Locker in a research note on Wednesday, March 5th. Guggenheim cut their price target on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Jefferies Financial Group dropped their price target on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, January 24th. 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 company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.81.

Foot Locker Price 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 firm has a market cap of $1.56 billion, a PE ratio of -3.65, a P/E/G ratio of 0.53 and a beta of 1.55. The firm’s fifty day simple moving average is $18.79 and its two-hundred day simple moving average is $22.21.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter last year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was down 5.7% 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 Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Summit Investment Advisors Inc. increased its position in Foot Locker by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer’s stock valued at $190,000 after acquiring an additional 562 shares during the last quarter. Harbour Investments Inc. increased its position in Foot Locker by 81.6% during the fourth 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in Foot Locker by 32.5% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,267 shares of the athletic footwear retailer’s stock valued at $84,000 after acquiring an additional 801 shares during the last quarter. Foundry Partners LLC increased its position in Foot Locker by 8.8% during the fourth quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer’s stock valued at $278,000 after acquiring an additional 1,031 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in Foot Locker by 8.9% during the third quarter. Natixis Advisors LLC now owns 12,867 shares of the athletic footwear retailer’s stock valued at $332,000 after acquiring an additional 1,054 shares during 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.