Foot Locker (NYSE:FL) Shares Up 5.3% – Time to Buy?

Shares of Foot Locker, Inc. (NYSE:FL) traded up 5.3% on Monday . The stock traded as high as $22.95 and last traded at $22.95. 593,138 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 3,355,991 shares. The stock had previously closed at $21.80.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. The Goldman Sachs Group decreased their price target on Foot Locker from $25.00 to $22.00 and set a “sell” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and issued a $27.00 price target on shares of Foot Locker in a research note on Wednesday, December 4th. Williams Trading upgraded Foot Locker from a “sell” rating to a “hold” rating and boosted their price target for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Barclays cut their price objective on Foot Locker from $34.00 to $29.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Finally, Citigroup lifted their price objective on Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Foot Locker currently has an average rating of “Hold” and a consensus target price of $25.29.

Foot Locker Stock Up 6.7 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The company has a market capitalization of $2.21 billion, a PE ratio of -5.19, a P/E/G ratio of 0.86 and a beta of 1.46. The business has a 50-day moving average of $23.58 and a 200 day moving average of $25.82.

Foot Locker (NYSE:FL) last issued its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts predict that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FL. Allspring Global Investments Holdings LLC grew its stake in Foot Locker by 23.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock worth $72,279,000 after purchasing an additional 557,489 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Foot Locker during the 2nd quarter valued at $10,005,000. Stifel Financial Corp boosted its position in Foot Locker by 43.3% during the 3rd quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer’s stock valued at $23,202,000 after acquiring an additional 271,297 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Foot Locker by 10.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock valued at $29,341,000 after acquiring an additional 106,402 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Foot Locker during the 3rd quarter valued at $2,636,000.

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.