Foot Locker (NYSE:FL) Reaches New 1-Year Low – Should You Sell?

Foot Locker, Inc. (NYSE:FL) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $18.98 and last traded at $18.90, with a volume of 511171 shares changing hands. The stock had previously closed at $20.05.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FL. Williams Trading upgraded shares of Foot Locker from a “sell” rating to a “hold” rating and boosted their price target for the stock from $17.00 to $21.00 in a research report on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price target on Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group cut their price objective on Foot Locker from $27.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, December 4th. Piper Sandler dropped their price target on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group lowered their price objective on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a research note on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Foot Locker has an average rating of “Hold” and an average price target of $24.94.

Foot Locker Stock Performance

The business has a fifty day moving average price of $21.59 and a two-hundred day moving average price of $24.77. 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 issued its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the business earned $0.30 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts expect that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

Institutional Trading of Foot Locker

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Foot Locker by 88.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock valued at $115,365,000 after acquiring an additional 2,500,396 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Foot Locker by 30.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,429,870 shares of the athletic footwear retailer’s stock worth $31,114,000 after buying an additional 333,247 shares during the period. Stifel Financial Corp grew its stake in Foot Locker by 43.3% in the 3rd 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 during the last quarter. Peregrine Capital Management LLC bought a new position in Foot Locker in the 4th quarter worth $5,123,000. Finally, Point72 Asset Management L.P. boosted its holdings in Foot Locker by 37.0% during the third quarter. Point72 Asset Management L.P. now owns 549,997 shares of the athletic footwear retailer’s stock valued at $14,212,000 after acquiring an additional 148,523 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 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.