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

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

Analysts Set New Price Targets

Several analysts have weighed in on FL shares. Robert W. Baird cut their price objective on Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Piper Sandler decreased their price objective on Foot Locker from $23.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Evercore ISI decreased their price target on shares of Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 target price on shares of Foot Locker in a research note on Wednesday, March 5th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Foot Locker has a consensus rating of “Hold” and a consensus target price of $22.81.

Foot Locker Trading Down 3.4 %

The stock has a market capitalization of $1.49 billion, a PE ratio of -3.48, a PEG ratio of 0.53 and a beta of 1.55. The stock’s 50 day moving average price is $19.51 and its 200-day moving average price is $22.84. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, beating the consensus estimate of $0.73 by $0.13. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The business’s revenue was down 5.7% on a year-over-year basis. On average, sell-side analysts expect that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D purchased a new stake in shares of Foot Locker in the third quarter worth about $1,563,000. Chartwell Investment Partners LLC raised its holdings in shares of Foot Locker by 2.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 33,685 shares of the athletic footwear retailer’s stock worth $870,000 after acquiring an additional 782 shares in the last quarter. Versor Investments LP bought a new position in shares of Foot Locker during the 3rd quarter valued at approximately $793,000. Empowered Funds LLC grew its holdings in shares of Foot Locker by 5.4% in the third quarter. Empowered Funds LLC now owns 385,521 shares of the athletic footwear retailer’s stock valued at $9,962,000 after purchasing an additional 19,612 shares in the last quarter. Finally, Natixis Advisors LLC raised its stake 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 purchasing an additional 1,054 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.