Foot Locker (NYSE:FL) Stock Price Up 5.3% – Time to Buy?

Shares of Foot Locker, Inc. (NYSE:FL) were up 5.3% during trading on Monday . The company 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.

Analyst Ratings Changes

FL has been the topic of several recent research reports. Telsey Advisory Group reduced their price target on Foot Locker from $30.00 to $24.00 and set a “market perform” rating on the stock in a research report on Thursday, December 5th. StockNews.com cut shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. UBS Group lowered their price target on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Barclays cut their price objective on shares of Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, The Goldman Sachs Group lowered their target price on Foot Locker from $25.00 to $22.00 and set a “sell” rating for the company in a research note on Thursday, December 5th. 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 stock. According to data from MarketBeat.com, Foot Locker currently has an average rating of “Hold” and an average price target of $25.29.

Foot Locker Stock Down 1.0 %

The firm has a 50-day simple moving average of $23.57 and a 200 day simple moving average of $25.76. The stock has a market capitalization of $2.11 billion, a P/E ratio of -4.94, a P/E/G ratio of 0.86 and a beta of 1.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS 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 analyst estimates 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 quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, equities research analysts forecast that Foot Locker, Inc. will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Foot Locker by 3.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock worth $355,000 after buying an additional 431 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Foot Locker by 1.2% during the second quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock valued at $1,035,000 after purchasing an additional 483 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Foot Locker by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock valued at $593,000 after buying an additional 518 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Foot Locker by 2.5% during the second quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock worth $690,000 after purchasing an additional 667 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Foot Locker by 116.0% during the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after acquiring an additional 733 shares during the last quarter.

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.