Foot Locker, Inc. (NYSE:FL) Given Average Recommendation of “Reduce” by Analysts

Foot Locker, Inc. (NYSE:FL) has earned a consensus rating of “Reduce” from the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $25.87.

Several analysts have weighed in on the stock. Robert W. Baird lowered their target price on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday. Morgan Stanley lowered shares of Foot Locker from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $24.00 to $18.00 in a research note on Thursday, July 18th. Barclays raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $27.00 to $34.00 in a report on Thursday, August 29th. Piper Sandler reiterated a “neutral” rating and set a $30.00 price target on shares of Foot Locker in a research report on Friday, August 23rd. Finally, StockNews.com lowered Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th.

Insider Buying and Selling at Foot Locker

In other news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $33.22, for a total value of $17,911,559.60. Following the completion of the transaction, the insider now directly owns 10,393,592 shares in the company, valued at $345,275,126.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 787,566 shares of company stock valued at $26,090,866. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Foot Locker

Several institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in shares of Foot Locker in the second quarter valued at $31,000. Fifth Third Bancorp grew its holdings in shares of Foot Locker by 116.0% in the 2nd 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. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock worth $40,000 after acquiring an additional 985 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Foot Locker during the second quarter valued at $43,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Foot Locker by 3,004.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock valued at $44,000 after purchasing an additional 1,352 shares during the last quarter.

Foot Locker Stock Up 0.3 %

NYSE:FL opened at $26.33 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -6.95, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44. Foot Locker has a one year low of $16.73 and a one year high of $35.60. The stock has a 50-day simple moving average of $28.67 and a 200 day simple moving average of $25.62.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. Sell-side analysts predict that Foot Locker will post 1.51 EPS for the current fiscal year.

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.