Foot Locker (NYSE:FL) Shares Down 4.7% – Here’s Why

Shares of Foot Locker, Inc. (NYSE:FL) traded down 4.7% on Thursday . The stock traded as low as $20.13 and last traded at $19.98. 1,593,764 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 2,900,906 shares. The stock had previously closed at $20.97.

Wall Street Analysts Forecast Growth

FL has been the subject of several recent research reports. Evercore ISI lowered their price objective on Foot Locker from $38.00 to $32.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. Telsey Advisory Group lowered their price target on shares of Foot Locker from $30.00 to $24.00 and set a “market perform” rating for the company in a research report on Thursday, December 5th. Gordon Haskett started coverage on shares of Foot Locker in a report on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price objective on the stock. Robert W. Baird lowered their target price on shares of Foot Locker from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Finally, Williams Trading upgraded Foot Locker from a “sell” rating to a “hold” rating and upped their price target for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Four equities 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.18.

Foot Locker Stock Performance

The business’s fifty day moving average price is $22.44 and its 200-day moving average price is $25.11. The stock has a market cap of $1.94 billion, a PE ratio of -4.53, a P/E/G ratio of 0.81 and a beta of 1.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.01 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 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS. As a group, equities research analysts forecast that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Foot Locker by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer’s stock valued at $117,123,000 after buying an additional 71,152 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Foot Locker in the 2nd quarter worth $1,024,000. XTX Topco Ltd raised its holdings in Foot Locker by 19.7% in the 2nd quarter. XTX Topco Ltd now owns 11,823 shares of the athletic footwear retailer’s stock worth $295,000 after purchasing an additional 1,946 shares during the period. Canada Pension Plan Investment Board raised its holdings in Foot Locker by 39.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 39,400 shares of the athletic footwear retailer’s stock worth $982,000 after purchasing an additional 11,100 shares during the period. Finally, Sei Investments Co. lifted its position in Foot Locker by 19.0% during the second quarter. Sei Investments Co. now owns 143,690 shares of the athletic footwear retailer’s stock valued at $3,581,000 after purchasing an additional 22,991 shares in the last quarter.

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.