Foot Locker (NYSE:FL) Reaches New 52-Week Low – What’s Next?

Foot Locker, Inc. (NYSE:FL)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $17.88 and last traded at $17.81, with a volume of 292346 shares. The stock had previously closed at $18.20.

Analyst Ratings Changes

A number of research firms recently issued reports on FL. Telsey Advisory Group dropped their target price 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. Jefferies Financial Group dropped their price objective on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. UBS Group reduced their target price on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Piper Sandler lowered their price target on Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Finally, Needham & Company LLC cut their price objective on Foot Locker from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Foot Locker currently has an average rating of “Hold” and an average target price of $24.94.

Foot Locker Trading Down 2.3 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The business’s 50 day moving average price is $20.62 and its 200-day moving average price is $24.05. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -3.94, a price-to-earnings-growth ratio of 0.53 and a beta of 1.48.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.01 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. Equities analysts expect that Foot Locker, Inc. will post 1.23 EPS for the current year.

Institutional Trading of Foot Locker

Institutional investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. boosted its holdings in shares of Foot Locker by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer’s stock valued at $190,000 after buying an additional 562 shares during the period. Harbour Investments Inc. boosted its stake in Foot Locker by 81.6% in the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after acquiring an additional 648 shares during the period. Chartwell Investment Partners LLC boosted its stake in Foot Locker by 2.4% in the third quarter. Chartwell Investment Partners LLC now owns 33,685 shares of the athletic footwear retailer’s stock valued at $870,000 after acquiring an additional 782 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Foot Locker by 32.5% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,267 shares of the athletic footwear retailer’s stock valued at $84,000 after purchasing an additional 801 shares during the last quarter. Finally, Foundry Partners LLC raised its position in shares of Foot Locker by 8.8% during the 4th quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer’s stock worth $278,000 after purchasing an additional 1,031 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.