Foot Locker (NYSE:FL) Lowered 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 published on Friday morning.

Several other analysts have also issued reports on FL. Piper Sandler reiterated a neutral rating and issued a $30.00 target price on shares of Foot Locker in a research note on Friday, August 23rd. Robert W. Baird increased their price target on shares of Foot Locker from $26.00 to $35.00 and gave the company a neutral rating in a research report on Monday, August 26th. Wedbush restated a neutral rating and set a $25.00 price target on shares of Foot Locker in a research report on Wednesday, June 12th. Citigroup increased their price target on shares of Foot Locker from $27.00 to $33.00 and gave the company a neutral rating in a research report on Tuesday, August 20th. Finally, Evercore ISI increased their price target on shares of Foot Locker from $34.00 to $38.00 and gave the company an outperform rating in a research report on Monday, August 26th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Foot Locker has a consensus rating of Hold and a consensus target price of $26.40.

Foot Locker Stock Performance

NYSE FL opened at $27.33 on Friday. Foot Locker has a 1 year low of $16.68 and a 1 year high of $35.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -7.21, a PEG ratio of 0.65 and a beta of 1.44. The company has a fifty day moving average price of $28.62 and a 200-day moving average price of $25.59.

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. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. As a group, equities research analysts predict that Foot Locker will post 1.51 EPS for the current fiscal year.

Insider Transactions at Foot Locker

In other news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.93, for a total value of $8,129,955.98. Following the sale, the insider now directly owns 11,146,292 shares of the company’s stock, valued at $367,047,395.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 787,566 shares of company stock valued at $26,090,866. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Foot Locker

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Foot Locker in the second quarter valued at approximately $61,000. Dana Investment Advisors Inc. raised its stake in Foot Locker by 34.3% in the second quarter. Dana Investment Advisors Inc. now owns 115,480 shares of the athletic footwear retailer’s stock valued at $2,878,000 after purchasing an additional 29,522 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Foot Locker in the second quarter valued at approximately $10,005,000. Quarry LP purchased a new stake in Foot Locker in the second quarter valued at approximately $31,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Foot Locker by 156.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after acquiring an additional 985 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.