Foot Locker (NYSE:FL) Trading Up 13.4% – Here’s Why

by · The Cerbat Gem

Foot Locker, Inc. (NYSE:FL – Get Free Report)’s stock price was up 13.4% on Monday . The stock traded as high as $14.06 and last traded at $13.62. Approximately 1,236,969 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 3,949,775 shares. The stock had previously closed at $12.01.

Wall Street Analyst Weigh In

Several research firms have commented on FL. Piper Sandler lowered their price objective on Foot Locker from $19.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Morgan Stanley lowered their price objective on Foot Locker from $16.00 to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 6th. StockNews.com lowered Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, April 11th. Jefferies Financial Group lowered their price objective on Foot Locker from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $24.00 price objective on shares of Foot Locker in a research report on Wednesday, March 5th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.63.

Read Our Latest Research Report on FL

Foot Locker Stock Up 11.9%

The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -2.98, a P/E/G ratio of 0.53 and a beta of 1.42. The business has a 50 day simple moving average of $13.75 and a 200-day simple moving average of $18.80. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67.

Foot Locker (NYSE:FL – Get Free Report) last issued its earnings results 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. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. On average, equities analysts expect that Foot Locker, Inc. will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

Several institutional investors have recently bought and sold shares of FL. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Foot Locker by 40.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 108,776 shares of the athletic footwear retailer’s stock worth $1,534,000 after purchasing an additional 31,113 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Foot Locker by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,207,430 shares of the athletic footwear retailer’s stock worth $17,025,000 after purchasing an additional 30,981 shares during the last quarter. US Bancorp DE lifted its stake in Foot Locker by 41.2% during the first quarter. US Bancorp DE now owns 40,177 shares of the athletic footwear retailer’s stock worth $566,000 after purchasing an additional 11,733 shares during the last quarter. Bayforest Capital Ltd lifted its stake in Foot Locker by 246.8% during the first quarter. Bayforest Capital Ltd now owns 14,682 shares of the athletic footwear retailer’s stock worth $207,000 after purchasing an additional 10,449 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in Foot Locker by 1,245.5% during the first quarter. XTX Topco Ltd now owns 138,953 shares of the athletic footwear retailer’s stock worth $1,959,000 after purchasing an additional 128,626 shares during 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 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.

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