Foot Locker (NYSE:FL) Stock Price Down 4.3% – Time to Sell?

Foot Locker, Inc. (NYSE:FL) traded down 4.3% on Monday . The company traded as low as $21.43 and last traded at $21.45. 918,060 shares changed hands during trading, a decline of 73% from the average session volume of 3,364,218 shares. The stock had previously closed at $22.41.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of Foot Locker in a research report on Wednesday, December 18th. Gordon Haskett initiated coverage on Foot Locker in a research report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target on the stock. Morgan Stanley cut their price objective on Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, December 6th. Piper Sandler decreased their target price on Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Finally, Williams Trading raised Foot Locker from a “sell” rating to a “hold” rating and lifted their price target for the company from $17.00 to $21.00 in a report on Wednesday, November 27th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Foot Locker has a consensus rating of “Hold” and an average price target of $25.18.

Foot Locker Stock Performance

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 stock has a market cap of $2.02 billion, a P/E ratio of -4.73, a PEG ratio of 0.86 and a beta of 1.46. The stock has a 50-day simple moving average of $23.51 and a 200-day simple moving average of $25.65.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FL. Quarry LP acquired a new position in Foot Locker during the 2nd quarter worth approximately $31,000. Fifth Third Bancorp raised its position in shares of Foot Locker by 116.0% during the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after purchasing an additional 733 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock worth $40,000 after purchasing an additional 985 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Foot Locker in the 2nd quarter valued at $43,000. Finally, nVerses Capital LLC bought a new stake in Foot Locker during the 3rd quarter valued at $47,000.

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.