Foot Locker (NYSE:FL) Shares Gap Down - What's Next?

Foot Locker, Inc. (NYSE:FL - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $16.05, but opened at $15.50. Foot Locker shares last traded at $15.75, with a volume of 433,515 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on the company. Piper Sandler reduced their price objective on Foot Locker from $23.00 to $19.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Robert W. Baird decreased their price objective on shares of Foot Locker from $24.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Evercore ISI cut their price target on shares of Foot Locker from $30.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. UBS Group lowered their price objective on Foot Locker from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. dropped their price target on Foot Locker from $23.00 to $20.00 and set an "underweight" rating on the stock in a research report on Friday, January 24th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.81.

Foot Locker Stock Down 2.2 %

The firm has a market capitalization of $1.49 billion, a P/E ratio of -3.48, a PEG ratio of 0.53 and a beta of 1.55. The firm's fifty day moving average price is $18.49 and its 200-day moving average price is $21.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45.

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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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. The company had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS. As a group, equities research analysts forecast that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Institutional Trading of Foot Locker

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbour Investments Inc. grew its position in Foot Locker by 81.6% in the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer's stock worth $31,000 after buying an additional 648 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Foot Locker in the 4th quarter worth $32,000. R Squared Ltd acquired a new stake in shares of Foot Locker during the fourth quarter worth $50,000. Sterling Capital Management LLC raised its position in shares of 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 period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Foot Locker during the third quarter valued at $58,000.

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.