Foot Locker (NYSE:FL) Stock Price Up 5.3% – What’s Next?

Foot Locker, Inc. (NYSE:FL)’s share price was up 5.3% during trading on Monday . The stock traded as high as $22.95 and last traded at $22.95. Approximately 593,138 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 3,355,991 shares. The stock had previously closed at $21.80.

Wall Street Analysts Forecast Growth

FL has been the subject of several research analyst reports. Williams Trading raised Foot Locker from a “sell” rating to a “hold” rating and upped their target price for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Needham & Company LLC reissued a “buy” rating and set a $27.00 target price on shares of Foot Locker in a research note on Wednesday, December 4th. Barclays decreased their price target on shares of Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Morgan Stanley cut their price objective on Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, December 6th. Finally, Jefferies Financial Group lowered their price target on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, December 4th. Four 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.29.

Foot Locker Trading Down 1.0 %

The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -4.94, a P/E/G ratio of 0.86 and a beta of 1.46. The business has a fifty day simple moving average of $23.57 and a 200 day simple moving average of $25.76.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share. On average, equities analysts anticipate that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

A number of large investors have recently bought and sold shares of FL. Allspring Global Investments Holdings LLC boosted its position in Foot Locker by 23.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock worth $72,279,000 after acquiring an additional 557,489 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Foot Locker in the second quarter valued at $10,005,000. 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 period. Jacobs Levy Equity Management Inc. increased its stake in Foot Locker by 10.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock valued at $29,341,000 after purchasing an additional 106,402 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Foot Locker during the third quarter worth about $2,636,000.

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.