StockNews.com Downgrades Foot Locker (NYSE:FL) to Sell

Foot Locker (NYSE:FL) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

FL has been the topic of several other reports. Evercore ISI upped their price objective on shares of Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, August 26th. 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. Barclays raised Foot Locker from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. Robert W. Baird lifted their price target on Foot Locker from $26.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Morgan Stanley lowered Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $24.00 to $18.00 in a research report on Thursday, July 18th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Foot Locker currently has an average rating of “Hold” and an average price target of $26.40.

Foot Locker Trading Up 3.3 %

Shares of FL stock opened at $28.91 on Friday. The company has a market capitalization of $2.74 billion, a PE ratio of -7.63, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. Foot Locker has a 52-week low of $16.68 and a 52-week high of $35.60. The business’s fifty day moving average is $28.40 and its 200 day moving average is $25.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66.

Insider Buying and Selling at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $32.90, for a total transaction of $49,350.00. Following the completion of the sale, the insider now owns 11,402,353 shares of the company’s stock, valued at approximately $375,137,413.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 787,566 shares of company stock worth $26,090,866. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Foot Locker by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 488,863 shares of the athletic footwear retailer’s stock valued at $15,228,000 after purchasing an additional 2,411 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Foot Locker by 3,004.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock valued at $44,000 after purchasing an additional 1,352 shares during the period. Norges Bank bought a new stake in shares of Foot Locker during the fourth quarter valued at approximately $21,238,000. US Bancorp DE boosted its position in shares of Foot Locker by 14.8% during the fourth quarter. US Bancorp DE now owns 38,455 shares of the athletic footwear retailer’s stock valued at $1,198,000 after purchasing an additional 4,965 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its stake in Foot Locker by 158,600.0% in the fourth quarter. TFO Wealth Partners LLC now owns 6,348 shares of the athletic footwear retailer’s stock worth $198,000 after purchasing an additional 6,344 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.