Foot Locker (NYSE:FL) Stock Price Down 3.5%

Foot Locker, Inc. (NYSE:FL - Get Free Report) dropped 3.5% during trading on Wednesday . The stock 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.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley cut their target price on Foot Locker from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, March 7th. Barclays reduced their target price on Foot Locker from $26.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, March 7th. Telsey Advisory Group reissued a "market perform" rating and issued a $28.00 price target (down previously from $38.00) on shares of Foot Locker in a research report on Thursday, March 7th. Guggenheim decreased their price objective on shares of Foot Locker from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, March 7th. Finally, Bank of America dropped their target price 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 given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Foot Locker currently has a consensus rating of "Hold" and a consensus price target of $24.94.

Foot Locker Trading Down 2.5 %

The company's fifty day moving average price is $28.71 and its two-hundred day moving average price is $25.88. The company has a quick ratio of 0.55, a current ratio of 1.72 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -7.21, a price-to-earnings-growth ratio of 0.66 and a beta of 1.43.

Foot Locker (NYSE:FL - Get Free Report) last released its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.04. Foot Locker had a positive return on equity of 4.25% and a negative net margin of 4.04%. The business had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the previous year, the business posted $0.97 earnings per share. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts expect that Foot Locker, Inc. will post 1.56 earnings per share for the current year.

Institutional Investors Weigh In On Foot Locker

Institutional investors and hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. lifted its stake in Foot Locker by 7,437.5% in the first quarter. Macquarie Group Ltd. now owns 3,678,300 shares of the athletic footwear retailer's stock valued at $145,992,000 after buying an additional 3,629,500 shares during the period. Barclays PLC boosted its stake in Foot Locker by 385.6% during the 3rd quarter. Barclays PLC now owns 1,746,876 shares of the athletic footwear retailer's stock worth $30,307,000 after acquiring an additional 1,387,154 shares during the last quarter. Morgan Stanley grew its holdings in Foot Locker by 59.1% during the third quarter. Morgan Stanley now owns 3,446,965 shares of the athletic footwear retailer's stock valued at $59,805,000 after purchasing an additional 1,280,389 shares during the period. Vanguard Group Inc. grew its holdings in Foot Locker by 9.6% during the third 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 during the period. Finally, Renaissance Technologies LLC increased its stake in Foot Locker by 5,122.3% in the first quarter. Renaissance Technologies LLC now owns 913,900 shares of the athletic footwear retailer's stock valued at $27,106,000 after purchasing an additional 896,400 shares in 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 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.