Foot Locker (NYSE:FL) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Foot Locker (NYSE:FL) from a sell rating to a hold rating in a research note released on Thursday.

Other equities analysts have also recently issued reports about the stock. Telsey Advisory Group reissued a market perform rating and issued a $27.00 price objective on shares of Foot Locker in a research note on Wednesday, August 28th. Robert W. Baird boosted their price objective on Foot Locker from $26.00 to $35.00 and gave the stock a neutral rating in a research note on Monday, August 26th. Morgan Stanley lowered Foot Locker from an equal weight rating to an underweight rating and lowered their price objective for the company from $24.00 to $18.00 in a research note on Thursday, July 18th. Citigroup lifted their target price on Foot Locker from $27.00 to $33.00 and gave the stock a neutral rating in a report on Tuesday, August 20th. Finally, Evercore ISI increased their price target on Foot Locker from $34.00 to $38.00 and gave the company an outperform rating in a report on Monday, August 26th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $26.40.

Foot Locker Stock Up 6.2 %

NYSE FL opened at $26.94 on Thursday. The stock has a 50 day moving average price of $28.17 and a 200-day moving average price of $25.79. Foot Locker has a one year low of $16.68 and a one year high of $35.60. 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 $2.56 billion, a P/E ratio of -7.11, a P/E/G ratio of 0.61 and a beta of 1.44.

Insiders Place Their Bets

In other Foot Locker 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 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 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 Securities & Exchange Commission, which is available through this link. Insiders have sold 787,566 shares of company stock worth $26,090,866 in the last ninety days. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Foot Locker

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in Foot Locker by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer’s stock valued at $117,123,000 after buying an additional 71,152 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Foot Locker by 23.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock valued at $72,279,000 after acquiring an additional 557,489 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Foot Locker by 9.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 954,663 shares of the athletic footwear retailer’s stock worth $29,738,000 after acquiring an additional 81,684 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Foot Locker by 326.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock worth $26,256,000 after acquiring an additional 705,237 shares in the last quarter. Finally, Invenomic Capital Management LP boosted its position in Foot Locker by 54.3% during the first quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer’s stock valued at $21,441,000 after purchasing an additional 264,598 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.