Foot Locker (NYSE:FL) Stock Price Up 6.1%

Foot Locker, Inc. (NYSE:FL) shares traded up 6.1% on Monday . The stock traded as high as $23.18 and last traded at $23.14. 2,542,299 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 3,584,715 shares. The stock had previously closed at $21.81.

Wall Street Analysts Forecast Growth

FL has been the topic of a number of analyst reports. Guggenheim decreased their price objective on Foot Locker from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Morgan Stanley cut their price objective on shares of Foot Locker from $26.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday. StockNews.com lowered shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. 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 report on Thursday, March 7th. Finally, Bank of America decreased their price target on shares of Foot Locker from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, March 7th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.56.

Foot Locker Price Performance

The stock has a market capitalization of $2.20 billion, a PE ratio of -6.65, a P/E/G ratio of 0.52 and a beta of 1.50. The firm’s 50 day simple moving average is $25.07 and its 200 day simple moving average is $26.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.72 and a quick ratio of 0.55.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.28 billion. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 earnings per share. As a group, equities analysts forecast that Foot Locker, Inc. will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FL. Tower Research Capital LLC TRC lifted its holdings in Foot Locker by 445.8% in the third quarter. Tower Research Capital LLC TRC now owns 27,477 shares of the athletic footwear retailer’s stock worth $477,000 after buying an additional 22,443 shares during the period. AQR Capital Management LLC grew its position 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 during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Foot Locker during the 4th quarter valued at about $20,717,000. Vanguard Group Inc. lifted its stake in shares of Foot Locker by 9.6% in the third quarter. Vanguard Group Inc. now owns 10,292,817 shares of the athletic footwear retailer’s stock worth $178,580,000 after buying an additional 902,610 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Foot Locker by 18.6% during the third quarter. Citigroup Inc. now owns 194,542 shares of the athletic footwear retailer’s stock valued at $3,375,000 after buying an additional 30,497 shares during the last quarter.

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.