Foot Locker, Inc. (NYSE:FL - Get Free Report) saw unusually-high trading volume on Wednesday following a better than expected earnings announcement. Approximately 2,763,145 shares traded hands during trading, a decline of 11% from the previous session's volume of 3,106,038 shares.The stock last traded at $18.97 and had previously closed at $17.37.
The athletic footwear retailer reported $0.86 earnings per share 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 company had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the previous year, the company earned $0.38 EPS. Foot Locker's revenue for the quarter was down 5.7% on a year-over-year basis.
Analyst Ratings Changes
Several brokerages have commented on FL. Needham & Company LLC reiterated a "buy" rating and issued a $24.00 price target on shares of Foot Locker in a research note on Wednesday. Jefferies Financial Group decreased their price target on shares of Foot Locker from $22.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday. UBS Group decreased their price target on shares of Foot Locker from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. reduced their target price on shares of Foot Locker from $23.00 to $20.00 and set an "underweight" rating on the stock in a report on Friday, January 24th. Finally, Robert W. Baird reduced their target price on shares of Foot Locker from $24.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $23.13.
Check Out Our Latest Stock Analysis on Foot Locker
Hedge Funds Weigh In On Foot Locker
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Foot Locker by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 10,505,006 shares of the athletic footwear retailer's stock worth $228,589,000 after acquiring an additional 210,832 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in 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 worth $115,365,000 after acquiring an additional 2,500,396 shares in the last quarter. Geode Capital Management LLC grew its stake in Foot Locker by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer's stock worth $49,319,000 after acquiring an additional 25,394 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Foot Locker by 67.9% in 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 acquiring an additional 770,932 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Foot Locker by 5.2% in the 4th quarter. American Century Companies Inc. now owns 1,659,206 shares of the athletic footwear retailer's stock worth $36,104,000 after acquiring an additional 81,814 shares in the last quarter.
Foot Locker Price 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 firm has a market capitalization of $1.77 billion, a P/E ratio of -4.15, a P/E/G ratio of 0.53 and a beta of 1.55. The stock's 50 day simple moving average is $19.72 and its 200 day simple moving average is $23.13.
Foot Locker Company Profile
(
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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