Foot Locker (NYSE:FL) Sets New 1-Year Low - Here's What Happened

Foot Locker, Inc. (NYSE:FL - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $12.07 and last traded at $12.47, with a volume of 10057881 shares trading hands. The stock had previously closed at $14.72.

Analysts Set New Price Targets

FL has been the subject of a number of research reports. Needham & Company LLC reissued a "buy" rating and issued a $24.00 target price on shares of Foot Locker in a report on Wednesday, March 5th. Barclays set a $24.00 target price on shares of Foot Locker in a research note on Wednesday, March 5th. UBS Group dropped their price target 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. Evercore ISI reduced their price objective on Foot Locker from $30.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. dropped their target price on Foot Locker from $23.00 to $20.00 and set an "underweight" rating for the company in a research report on Friday, January 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $22.81.

Foot Locker Stock Performance

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 stock's 50 day moving average price is $16.70 and its 200 day moving average price is $20.74. The company has a market capitalization of $1.30 billion, a P/E ratio of -3.04, a price-to-earnings-growth ratio of 0.53 and a beta of 1.41.

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Foot Locker (NYSE:FL - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.13. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, equities analysts expect that Foot Locker, Inc. will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

Several institutional investors have recently added to or reduced their stakes in FL. Summit Investment Advisors Inc. lifted its position in shares of Foot Locker by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer's stock valued at $190,000 after acquiring an additional 562 shares during the period. Harbour Investments Inc. raised its holdings in shares of Foot Locker by 81.6% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer's stock valued at $31,000 after purchasing an additional 648 shares during the period. Foundry Partners LLC boosted 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 in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Foot Locker in the 4th quarter valued at about $32,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Foot Locker by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,462 shares of the athletic footwear retailer's stock valued at $1,033,000 after buying an additional 1,786 shares in 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.