Foot Locker (NYSE:FL) Trading Up 3.8% – Here’s What Happened

Foot Locker, Inc. (NYSE:FL)’s stock price traded up 3.8% during trading on Tuesday . The stock traded as high as $24.99 and last traded at $24.68. 845,372 shares were traded during trading, a decline of 74% from the average session volume of 3,275,724 shares. The stock had previously closed at $23.77.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citigroup raised their target price on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.00 price objective on shares of Foot Locker in a report on Wednesday, August 28th. Morgan Stanley cut Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $24.00 to $18.00 in a research note on Thursday, July 18th. Robert W. Baird cut their price objective on Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Finally, Gordon Haskett assumed coverage on Foot Locker in a report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $25.94.

Foot Locker Stock Down 0.5 %

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 stock has a 50 day simple moving average of $27.77 and a 200-day simple moving average of $25.55. The firm has a market cap of $2.34 billion, a PE ratio of -6.37, a PEG ratio of 0.58 and a beta of 1.43.

Foot Locker (NYSE:FL) last issued 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 business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Sell-side analysts predict that Foot Locker, Inc. will post 1.49 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 11,146,292 shares in the company, valued at $367,047,395.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 787,566 shares of company stock valued at $26,090,866 over the last three months. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Foot Locker

Hedge funds have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC raised its stake in Foot Locker by 3.1% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock valued at $355,000 after purchasing an additional 431 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Foot Locker by 1.2% during the second quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock valued at $1,035,000 after buying an additional 483 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Foot Locker by 2.2% in the second quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock worth $593,000 after buying an additional 518 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Foot Locker by 2.5% during the second quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock worth $690,000 after acquiring an additional 667 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in 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 acquiring an additional 733 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.