Foot Locker (NYSE:FL) Hits New 12-Month Low – Should You Sell?

Foot Locker, Inc. (NYSE:FL)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $16.88 and last traded at $16.91, with a volume of 4237697 shares traded. The stock had previously closed at $18.66.

Analyst Ratings Changes

A number of research firms have recently commented on FL. Piper Sandler cut their price target on Foot Locker from $23.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 target price on shares of Foot Locker in a research note on Wednesday, March 5th. Barclays set a $24.00 price target on Foot Locker in a research report on Wednesday. The Goldman Sachs Group lowered their price target 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. Finally, Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and upped their target price for the stock from $17.00 to $21.00 in a report on Wednesday, November 27th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.81.

Foot Locker Price Performance

The company has a market capitalization of $1.61 billion, a PE ratio of -3.76, a price-to-earnings-growth 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. The firm’s 50-day moving average is $19.72 and its 200-day moving average is $23.07.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $2.25 billion during 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%. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. Equities analysts predict that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Foot Locker by 88.6% in 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 purchasing an additional 2,500,396 shares in the last quarter. Cramer Rosenthal Mcglynn LLC purchased a new stake in Foot Locker during the fourth quarter valued at about $34,835,000. Cooper Creek Partners Management LLC bought a new position in shares of Foot Locker during the fourth quarter valued at about $30,416,000. Segall Bryant & Hamill LLC bought a new position in shares of Foot Locker during the fourth quarter valued at about $18,640,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Foot Locker by 67.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock worth $41,483,000 after buying an additional 770,932 shares during the period.

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.