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

Foot Locker (NYSE:FL) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other research firms have also recently issued reports on FL. Citigroup increased their price target on Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Wedbush reaffirmed a “neutral” rating and issued a $25.00 price target on shares of Foot Locker in a research note on Wednesday, June 12th. Telsey Advisory Group reissued a “market perform” rating and set a $27.00 price objective on shares of Foot Locker in a research report on Wednesday, August 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $30.00 target price on shares of Foot Locker in a research report on Friday, August 23rd. Finally, Evercore ISI increased their price target on Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, August 26th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.40.

Foot Locker Stock Up 3.3 %

Shares of NYSE:FL opened at $28.91 on Friday. The business’s 50-day moving average is $28.40 and its 200-day moving average is $25.64. Foot Locker has a 1 year low of $16.68 and a 1 year high of $35.60. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -7.63, a P/E/G ratio of 0.65 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49.

Insider Activity

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $32.90, for a total value of $49,350.00. Following the completion of the sale, the insider now directly owns 11,402,353 shares of the company’s stock, valued at approximately $375,137,413.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 787,566 shares of company stock worth $26,090,866 over the last quarter. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Foot Locker

Several large investors have recently modified their holdings of FL. Point72 Asia Singapore Pte. Ltd. bought a new stake in Foot Locker in the 2nd quarter valued at about $61,000. Dana Investment Advisors Inc. lifted its stake in shares of Foot Locker by 34.3% during 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 buying an additional 29,522 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Foot Locker in the 2nd quarter worth approximately $10,005,000. Quarry LP bought a new stake in Foot Locker during the 2nd quarter valued at $31,000. Finally, Northwestern Mutual Wealth Management Co. boosted 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 worth $40,000 after acquiring an additional 985 shares during the period.

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.