Foot Locker (NYSE:FL) Stock Price Up 3.8% – Here’s Why

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

Analysts Set New Price Targets

A number of analysts recently issued reports on FL shares. Morgan Stanley cut Foot Locker from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $24.00 to $18.00 in a report on Thursday, July 18th. Evercore ISI increased their price objective on Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, August 26th. Robert W. Baird dropped their price objective on Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Barclays raised Foot Locker from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $27.00 to $34.00 in a report on Thursday, August 29th. Finally, Citigroup increased their price objective on Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.94.

Foot Locker Price Performance

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 stock has a market capitalization of $2.33 billion, a P/E ratio of -6.69, a price-to-earnings-growth ratio of 0.57 and a beta of 1.43. The firm has a 50-day moving average price of $27.99 and a 200 day moving average price of $25.59.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS 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 firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. On average, analysts expect that Foot Locker, Inc. will post 1.49 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $33.22, for a total transaction of $17,911,559.60. Following the transaction, the insider now directly owns 10,393,592 shares in the company, valued at $345,275,126.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 787,566 shares of company stock worth $26,090,866 in the last ninety days. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Foot Locker

Several institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning lifted its holdings in Foot Locker by 42.1% in the 3rd quarter. Creative Planning now owns 13,823 shares of the athletic footwear retailer’s stock worth $357,000 after buying an additional 4,093 shares during the period. Handelsbanken Fonder AB lifted its holdings in Foot Locker by 31.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 25,200 shares of the athletic footwear retailer’s stock worth $651,000 after buying an additional 6,000 shares during the period. SG Americas Securities LLC lifted its holdings in Foot Locker by 66.9% in the 3rd quarter. SG Americas Securities LLC now owns 7,603 shares of the athletic footwear retailer’s stock worth $196,000 after buying an additional 3,048 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Foot Locker in the 2nd quarter worth approximately $61,000. Finally, Dana Investment Advisors Inc. lifted its stake in shares of Foot Locker by 34.3% in the 2nd 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 during the period.

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.