Foot Locker (NYSE:FL) Stock Price Down 2.7% After Analyst Downgrade

Foot Locker, Inc. (NYSE:FL - Get Free Report)'s stock price was down 2.7% during mid-day trading on Monday 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 $11.40 and last traded at $11.49. 1,486,345 shares were traded during trading, a decline of 63% from the average daily volume of 4,006,554 shares. The stock had previously closed at $11.81.

Several other research analysts have also commented on the company. Robert W. Baird cut their price objective on Foot Locker from $24.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price objective on shares of Foot Locker in a research report on Wednesday, March 5th. Barclays set a $24.00 price target on Foot Locker in a research report on Wednesday, March 5th. Needham & Company LLC reiterated a "buy" rating and issued a $24.00 price objective on shares of Foot Locker in a report on Wednesday, March 5th. Finally, UBS Group dropped their target price on Foot Locker from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $21.69.

Institutional Inflows and Outflows

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

Foot Locker Trading Up 6.9 %

The stock has a fifty day simple moving average of $15.68 and a 200 day simple moving average of $20.07. The firm has a market capitalization of $1.13 billion, a P/E ratio of -2.64, a PEG ratio of 0.53 and a beta of 1.41. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15.

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