Foot Locker (NYSE:FL) Trading Down 14.9% - Here's Why

Foot Locker, Inc. (NYSE:FL - Get Free Report)'s share price traded down 14.9% during mid-day trading on Thursday . The stock traded as low as $12.70 and last traded at $12.52. 1,152,298 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 3,305,900 shares. The stock had previously closed at $14.72.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FL shares. Robert W. Baird lowered their price target 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. Jefferies Financial Group lowered their target price on shares of Foot Locker from $22.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. Piper Sandler dropped their target price on shares of Foot Locker from $23.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. UBS Group reduced their price target on Foot Locker from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Finally, Barclays set a $24.00 price objective on Foot Locker in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $22.81.

Foot Locker Stock Performance

The stock's 50 day moving average is $17.29 and its two-hundred day moving average is $21.07. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -2.51, 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.

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

Institutional Investors Weigh In On Foot Locker

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moody National Bank Trust Division bought a new position in shares of Foot Locker in the 4th quarter valued at about $610,000. Geode Capital Management LLC lifted its position in Foot Locker by 1.3% during 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 acquiring an additional 25,394 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Foot Locker by 88.6% during the fourth 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 during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Foot Locker by 198.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,876 shares of the athletic footwear retailer's stock worth $63,000 after acquiring an additional 1,911 shares during the period. Finally, Stifel Financial Corp grew its position in shares of Foot Locker by 43.3% in the third quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer's stock valued at $23,202,000 after purchasing an additional 271,297 shares during 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.