Foot Locker (NYSE:FL) Hits New 1-Year Low on Analyst Downgrade

Shares of Foot Locker, Inc. (NYSE:FL - Get Free Report) hit a new 52-week low during mid-day trading 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 traded. The stock had previously closed at $11.81.

Several other equities research analysts also recently weighed in on the company. Telsey Advisory Group reaffirmed a "market perform" rating and set a $24.00 price target on shares of Foot Locker in a research report on Wednesday, March 5th. Piper Sandler reduced their price target on Foot Locker from $19.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Barclays set a $24.00 price objective on Foot Locker in a research report on Wednesday, March 5th. Robert W. Baird lowered their price target on shares of Foot Locker from $24.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Finally, UBS Group dropped 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 report on Thursday, March 6th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $21.69.

Hedge Funds Weigh In On Foot Locker

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Harbour Investments Inc. grew its position in shares of 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 purchasing an additional 648 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Foot Locker during the 4th quarter worth $32,000. GAMMA Investing LLC boosted its position in shares of Foot Locker by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock valued at $35,000 after acquiring an additional 1,764 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Foot Locker in the fourth quarter valued at about $50,000. Finally, Sterling Capital Management LLC increased its position in Foot Locker by 819.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer's stock worth $57,000 after purchasing an additional 2,343 shares during the last quarter.

Foot Locker Stock Up 6.9 %

The firm's fifty day simple moving average is $15.68 and its two-hundred day simple moving average is $20.04. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -2.64, a price-to-earnings-growth ratio of 0.53 and a beta of 1.41. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL - Get Free Report) last posted its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. Sell-side analysts anticipate that Foot Locker, Inc. will post 1.23 EPS for the current year.

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.