Foot Locker (NYSE:FL) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of Foot Locker (NYSE:FL) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

Other research analysts have also issued research reports about the company. Evercore ISI boosted their price objective on Foot Locker from $34.00 to $38.00 and gave the stock an outperform rating in a report on Monday, August 26th. Telsey Advisory Group restated a market perform rating and set a $27.00 price target on shares of Foot Locker in a research report on Wednesday, August 28th. Citigroup raised their price objective on Foot Locker from $27.00 to $33.00 and gave the company a neutral rating in a report on Tuesday, August 20th. Piper Sandler reissued a neutral rating and set a $30.00 price target on shares of Foot Locker in a research note on Friday, August 23rd. Finally, Barclays upgraded shares of Foot Locker from an equal weight rating to an overweight rating and lifted their target price for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Five 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $26.40.

Foot Locker Stock Down 1.9 %

Shares of NYSE FL opened at $28.35 on Friday. Foot Locker has a one year low of $16.68 and a one year high of $35.60. The business’s fifty day moving average price is $28.55 and its 200-day moving average price is $25.57. The stock has a market capitalization of $2.69 billion, a PE ratio of -7.48, a P/E/G ratio of 0.65 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. On average, equities research analysts anticipate that Foot Locker will post 1.51 EPS for the current year.

Insider Activity at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.93, for a total value of $8,129,955.98. Following the completion of the sale, the insider now owns 11,146,292 shares in the company, valued at approximately $367,047,395.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 787,566 shares of company stock worth $26,090,866. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Foot Locker

Several institutional investors have recently added to or reduced their stakes in FL. Quarry LP bought a new position in shares of Foot Locker in the 2nd quarter valued at about $31,000. Fifth Third Bancorp boosted its position 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 valued at $34,000 after buying an additional 733 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Foot Locker by 156.1% during 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 bought a new stake in shares of Foot Locker during the second quarter worth $43,000. Finally, Quadrant Capital Group LLC grew its stake in Foot Locker by 3,004.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock worth $44,000 after acquiring an additional 1,352 shares in 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.