Foot Locker, Inc. (NYSE:FL) Given Consensus Rating of “Reduce” by Brokerages

Shares of Foot Locker, Inc. (NYSE:FL) have been given an average recommendation of “Reduce” by the sixteen brokerages that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $26.40.

A number of equities research analysts have issued reports on FL shares. Wedbush reaffirmed a “neutral” rating and set a $25.00 target price on shares of Foot Locker in a research report on Wednesday, June 12th. Evercore ISI upped their price objective on shares of Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, August 26th. Citigroup lifted their target price on shares of Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Piper Sandler restated a “neutral” rating and set a $30.00 price target on shares of Foot Locker in a report on Friday, August 23rd. Finally, Barclays upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $27.00 to $34.00 in a research note on Thursday, August 29th.

Foot Locker Stock Up 0.5 %

Foot Locker stock opened at $27.48 on Friday. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. Foot Locker has a 1-year low of $16.68 and a 1-year high of $35.60. The firm’s fifty day simple moving average is $28.65 and its 200-day simple moving average is $25.62. The company has a market capitalization of $2.60 billion, a P/E ratio of -7.25, a P/E/G ratio of 0.65 and a beta of 1.44.

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

Insider Activity

In other news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of Foot Locker stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.93, for a total transaction of $8,129,955.98. Following the sale, the insider now directly 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 SEC, which is available through this hyperlink. In the last 90 days, insiders sold 787,566 shares of company stock worth $26,090,866. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Foot Locker

Several institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in Foot Locker by 9.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 954,663 shares of the athletic footwear retailer’s stock valued at $29,738,000 after buying an additional 81,684 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Foot Locker by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 488,863 shares of the athletic footwear retailer’s stock worth $15,228,000 after acquiring an additional 2,411 shares in the last quarter. Quadrant Capital Group LLC grew its position in Foot Locker by 3,004.4% during 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 during the last quarter. Norges Bank acquired a new stake in Foot Locker during the 4th quarter valued at $21,238,000. Finally, US Bancorp DE raised its position in Foot Locker by 14.8% in the 4th quarter. US Bancorp DE now owns 38,455 shares of the athletic footwear retailer’s stock valued at $1,198,000 after purchasing an additional 4,965 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.