Foot Locker (NYSE:FL) Sets New 1-Year Low After Analyst Downgrade
Foot Locker (NYSE:FL) reached a new 52-week low of $11.08 after JPMorgan Chase downgraded its price target from $19.00 to $16.00, maintaining an underweight rating. Other analysts have also lowered their targets, with a consensus rating of "Hold" and a price target of $21.69. The company reported $0.86 EPS, beating estimates, but revenue fell 5.7% year-over-year. Foot Locker has a market cap of $1.08 billion and a negative net margin of 5.24%.
Foot Locker, Inc. (NYSE:FL - Get Free Report)'s share price reached a new 52-week low on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $19.00 to $16.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Foot Locker traded as low as $11.08 and last traded at $11.35, with a volume of 6163796 shares trading hands. The stock had previously closed at $11.81.
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Other equities research analysts have also recently issued research reports about the company. UBS Group cut their target price on Foot Locker from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Barclays set a $24.00 price objective on shares of Foot Locker in a report on Wednesday, March 5th. Robert W. Baird lowered their target price on shares of Foot Locker from $24.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Piper Sandler reduced their price target on shares of Foot Locker from $19.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $24.00 price objective on shares of Foot Locker in a research report on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $21.69.
Read Our Latest Analysis on FL
Institutional Trading of Foot Locker
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Several hedge funds have recently added to or reduced their stakes in FL. Allspring Global Investments Holdings LLC increased its position 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 purchasing an additional 2,500,396 shares during the last quarter. Cramer Rosenthal Mcglynn LLC acquired a new position in shares of Foot Locker during the fourth quarter worth $34,835,000. Cooper Creek Partners Management LLC purchased a new position in Foot Locker in the fourth quarter valued at $30,416,000. Segall Bryant & Hamill LLC acquired a new stake in Foot Locker in the fourth quarter valued at $18,640,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Foot Locker by 67.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer's stock worth $41,483,000 after buying an additional 770,932 shares during the last quarter.
Foot Locker Trading Down 3.9 %
The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -2.52, a PEG ratio of 0.53 and a beta of 1.41. 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 company has a 50-day moving average price of $16.26 and a 200-day moving average price of $20.39.
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Foot Locker (NYSE:FL - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.13. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the company posted $0.38 earnings per share. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, research analysts forecast that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.
About Foot Locker
(Get Free Report)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.
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