Foot Locker (NYSE:FL) Downgraded by StockNews.com

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

FL has been the subject of several other research reports. Piper Sandler reaffirmed a neutral rating and set a $30.00 target price on shares of Foot Locker in a report on Friday, August 23rd. Wedbush reiterated a neutral rating and issued a $25.00 price objective on shares of Foot Locker in a research note on Wednesday, June 12th. Robert W. Baird lifted their price objective on shares of Foot Locker from $26.00 to $35.00 and gave the stock a neutral rating in a research note on Monday, August 26th. Evercore ISI lifted their price objective on shares of Foot Locker from $34.00 to $38.00 and gave the stock an outperform rating in a research note on Monday, August 26th. Finally, Barclays upgraded shares of 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. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Foot Locker has an average rating of Hold and an average price target of $26.40.

Foot Locker Stock Performance

Shares of FL stock opened at $28.35 on Friday. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -7.48, a PEG ratio of 0.65 and a beta of 1.44. 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 50-day simple moving average of $28.55 and a 200 day simple moving average of $25.57. Foot Locker has a 52 week low of $16.68 and a 52 week high of $35.60.

Foot Locker (NYSE:FL) last announced 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 business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. On average, sell-side analysts predict that Foot Locker will post 1.51 earnings per share for the current year.

Insider Activity at Foot Locker

In other news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the company’s stock in a transaction on 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 approximately $367,047,395.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 787,566 shares of company stock valued at $26,090,866. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FL. Point72 Asia Singapore Pte. Ltd. acquired a new position in Foot Locker during the second quarter worth $61,000. Dana Investment Advisors Inc. raised its holdings in Foot Locker by 34.3% during the second quarter. Dana Investment Advisors Inc. now owns 115,480 shares of the athletic footwear retailer’s stock worth $2,878,000 after buying an additional 29,522 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Foot Locker during the second quarter worth $10,005,000. Quarry LP acquired a new position in Foot Locker during the second quarter worth $31,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Foot Locker by 156.1% in 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 purchasing 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.