Foot Locker, Inc. (NYSE:FL – Get Free Report)’s share price was down 3.5% on Wednesday . The stock traded as low as $25.05 and last traded at $25.06. Approximately 1,570,754 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 3,785,278 shares. The stock had previously closed at $25.97.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Morgan Stanley lowered their target price on Foot Locker from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Thursday, March 7th. UBS Group raised Foot Locker from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $12.00 to $23.00 in a report on Monday, March 11th. Telsey Advisory Group reissued a “market perform” rating and issued a $28.00 price objective (down from $38.00) on shares of Foot Locker in a report on Thursday, March 7th. Evercore ISI raised Foot Locker from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $28.00 to $32.00 in a report on Monday, March 25th. Finally, Barclays decreased their price objective on Foot Locker from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $24.94.
Foot Locker Price Performance
The stock has a fifty day moving average price of $28.71 and a 200-day moving average price of $25.88. The company has a market cap of $2.39 billion, a PE ratio of -7.21, a price-to-earnings-growth ratio of 0.66 and a beta of 1.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.72 and a quick ratio of 0.55.
Foot Locker (NYSE:FL – Get Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the business posted $0.97 earnings per share. Foot Locker’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts expect that Foot Locker, Inc. will post 1.56 earnings per share for the current year.
Hedge Funds Weigh In On Foot Locker
Several hedge funds have recently bought and sold shares of FL. Raymond James Financial Services Advisors Inc. bought a new stake in Foot Locker during the first quarter valued at about $611,000. HighTower Advisors LLC boosted its holdings in Foot Locker by 4.9% during the first quarter. HighTower Advisors LLC now owns 14,934 shares of the athletic footwear retailer’s stock valued at $443,000 after acquiring an additional 704 shares during the period. AlphaCrest Capital Management LLC boosted its holdings in Foot Locker by 19.4% during the first quarter. AlphaCrest Capital Management LLC now owns 13,103 shares of the athletic footwear retailer’s stock valued at $389,000 after acquiring an additional 2,125 shares during the period. MetLife Investment Management LLC boosted its holdings in Foot Locker by 29.0% during the first quarter. MetLife Investment Management LLC now owns 56,469 shares of the athletic footwear retailer’s stock valued at $1,675,000 after acquiring an additional 12,703 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Foot Locker by 6.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,002 shares of the athletic footwear retailer’s stock valued at $949,000 after acquiring an additional 2,059 shares during the period.
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 youth culture 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.