Foot Locker (NYSE:FL) Shares Down 3.5%

Shares of Foot Locker, Inc. (NYSE:FLGet Free Report) dropped 3.5% during trading on Wednesday . The company traded as low as $25.05 and last traded at $25.06. Approximately 1,570,754 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 3,785,278 shares. The stock had previously closed at $25.97.

Analyst Upgrades and Downgrades

FL has been the subject of a number of research reports. UBS Group raised shares of Foot Locker from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $23.00 in a research note on Monday, March 11th. Jefferies Financial Group cut their price target on shares of Foot Locker from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, March 6th. Piper Sandler cut their price target on shares of Foot Locker from $37.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Evercore ISI raised shares of Foot Locker from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $32.00 in a research note on Monday, March 25th. Finally, Guggenheim cut their price target on shares of Foot Locker from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Foot Locker presently has a consensus rating of “Hold” and an average price target of $24.94.

View Our Latest Stock Report on Foot Locker

Foot Locker Stock Down 2.5 %

The firm has a market cap of $2.39 billion, a PE ratio of -7.21, a PEG ratio of 0.66 and a beta of 1.43. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 1.72. The company’s 50-day simple moving average is $28.71 and its two-hundred day simple moving average is $25.88.

Foot Locker (NYSE:FLGet Free Report) last issued its quarterly earnings data on Wednesday, March 6th. The athletic footwear retailer reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the business earned $0.97 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts predict that Foot Locker, Inc. will post 1.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its stake in shares of Foot Locker by 445.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 27,477 shares of the athletic footwear retailer’s stock worth $477,000 after acquiring an additional 22,443 shares in the last quarter. AQR Capital Management LLC increased its stake in Foot Locker by 110.4% during the 3rd quarter. AQR Capital Management LLC now owns 731,256 shares of the athletic footwear retailer’s stock valued at $12,687,000 after purchasing an additional 383,724 shares in the last quarter. Vanguard Group Inc. increased its stake in Foot Locker by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,292,817 shares of the athletic footwear retailer’s stock valued at $178,580,000 after purchasing an additional 902,610 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Foot Locker by 416.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 50,848 shares of the athletic footwear retailer’s stock valued at $882,000 after purchasing an additional 41,005 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Foot Locker by 18.6% during the 3rd quarter. Citigroup Inc. now owns 194,542 shares of the athletic footwear retailer’s stock valued at $3,375,000 after purchasing an additional 30,497 shares in the last quarter.

About Foot Locker

(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 youth culture 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.

Further Reading

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