Foot Locker (NYSE:FL) Stock Price Down 4.3% – Here’s What Happened

Foot Locker, Inc. (NYSE:FL)’s stock price dropped 4.3% during trading on Monday . The stock traded as low as $21.43 and last traded at $21.45. Approximately 918,060 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 3,364,218 shares. The stock had previously closed at $22.41.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, December 4th. UBS Group cut their target price on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of Foot Locker in a research note on Wednesday, December 18th. Barclays cut their price objective on Foot Locker from $34.00 to $29.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Finally, StockNews.com downgraded Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.18.

Foot Locker Trading Up 1.1 %

The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -4.83, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46. The business has a fifty day moving average price of $23.41 and a 200 day moving average price of $25.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45.

Foot Locker (NYSE:FL) last announced its quarterly earnings data 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). Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the business posted $0.30 EPS. Foot Locker’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts expect that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

A number of hedge funds have recently made changes to their positions in FL. Point72 Asset Management L.P. bought a new stake in Foot Locker in the second quarter valued at about $10,005,000. Stifel Financial Corp boosted its position in Foot Locker by 43.3% in the third quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer’s stock valued at $23,202,000 after buying an additional 271,297 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Foot Locker by 10.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock worth $29,341,000 after buying an additional 106,402 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Foot Locker during the third quarter worth approximately $2,636,000. Finally, Edgestream Partners L.P. raised its stake in shares of Foot Locker by 477.2% in the third quarter. Edgestream Partners L.P. now owns 117,602 shares of the athletic footwear retailer’s stock valued at $3,039,000 after acquiring an additional 97,226 shares during 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.