Foot Locker (NYSE:FL) Shares Gap Down – Here’s What Happened

Foot Locker, Inc. (NYSE:FL) shares gapped down before the market opened 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 traded.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FL. Jefferies Financial Group reduced their price target on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Needham & Company LLC reissued a “buy” rating and set a $24.00 price target on shares of Foot Locker in a research report on Wednesday, March 5th. Robert W. Baird reduced their price target on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price target on shares of Foot Locker in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Foot Locker presently has an average rating of “Hold” and an average target price of $22.81.

Foot Locker Price Performance

The company has a market capitalization of $1.53 billion, a PE ratio of -3.58, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The company’s 50 day simple moving average is $18.70 and its 200 day simple moving average is $22.06.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 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 analyst estimates of $2.32 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The firm’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. As a group, sell-side analysts predict that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Foot Locker

Hedge funds have recently added to or reduced their stakes in the stock. Harbour Investments Inc. boosted its holdings in shares of Foot Locker by 81.6% in the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after acquiring an additional 648 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Foot Locker in the fourth quarter valued at approximately $32,000. R Squared Ltd acquired a new stake in shares of Foot Locker in the fourth quarter valued at approximately $50,000. Sterling Capital Management LLC boosted its holdings in shares of Foot Locker by 819.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock valued at $57,000 after acquiring an additional 2,343 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Foot Locker in the third quarter valued at approximately $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.