Foot Locker (NYSE:FL) Shares Down 4.3% – Should You Sell?

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 changed hands during trading, a decline of 73% from the average daily volume of 3,364,218 shares. The stock had previously closed at $22.41.

Analysts Set New Price Targets

A number of research firms have weighed in on FL. Barclays decreased their price target on Foot Locker from $34.00 to $29.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Gordon Haskett assumed coverage on shares of Foot Locker in a research note on Monday, October 7th. They issued an “accumulate” rating and a $27.00 target price for the company. JPMorgan Chase & Co. dropped their price target on shares of Foot Locker from $27.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, December 4th. Williams Trading upgraded shares of Foot Locker from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $17.00 to $21.00 in a report on Wednesday, November 27th. Finally, Jefferies Financial Group lowered their target price on Foot Locker from $27.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.18.

Foot Locker Price Performance

The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $23.41 and a 200-day moving average of $25.60. The stock has a market capitalization of $2.07 billion, a P/E ratio of -4.83, a PEG ratio of 0.86 and a beta of 1.46.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Sell-side analysts predict that Foot Locker, Inc. will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in Foot Locker by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer’s stock worth $117,123,000 after acquiring an additional 71,152 shares during the period. Geode Capital Management LLC grew its position in Foot Locker by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after buying an additional 25,394 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Foot Locker by 10.3% in 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. Charles Schwab Investment Management Inc. lifted its position in shares of Foot Locker by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock valued at $28,775,000 after acquiring an additional 38,318 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Foot Locker by 43.3% during the 3rd quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer’s stock worth $23,202,000 after acquiring an additional 271,297 shares in the last quarter.

Foot Locker Company Profile

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.