Foot Locker (NYSE:FL) Trading Down 3.3%

Foot Locker, Inc. (NYSE:FL)’s share price fell 3.3% during mid-day trading on Monday . The stock traded as low as $27.13 and last traded at $27.41. 191,217 shares changed hands during trading, a decline of 94% from the average session volume of 3,320,687 shares. The stock had previously closed at $28.35.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FL shares. Barclays upgraded 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 report on Thursday, August 29th. Telsey Advisory Group reiterated a “market perform” rating and set a $27.00 price target on shares of Foot Locker in a report on Wednesday, August 28th. Morgan Stanley cut shares of Foot Locker from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $24.00 to $18.00 in a research note on Thursday, July 18th. Wedbush reissued a “neutral” rating and set a $25.00 price target on shares of Foot Locker in a research note on Wednesday, June 12th. Finally, Citigroup lifted their price objective on Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Foot Locker has an average rating of “Hold” and an average price target of $26.40.

Foot Locker Trading Down 3.2 %

The firm’s 50 day simple moving average is $28.55 and its 200-day simple moving average is $25.57. The company has a market capitalization of $2.60 billion, a PE ratio of -7.48, a P/E/G ratio of 0.65 and a beta of 1.44. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. As a group, equities research analysts anticipate that Foot Locker, Inc. will post 1.51 EPS for the current year.

Insider Activity at Foot Locker

In other news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the business’s 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 transaction, the insider now directly owns 11,402,353 shares of the company’s stock, valued at $375,137,413.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 787,566 shares of company stock worth $26,090,866. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of Foot Locker

Hedge funds and other institutional investors have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC bought a new position in Foot Locker during the 1st quarter valued at $3,488,000. Public Employees Retirement System of Ohio acquired a new position in Foot Locker in the first quarter worth about $2,194,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Foot Locker in the first quarter valued at about $2,670,000. Quadrant Capital Group LLC raised its stake in Foot Locker by 3,004.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock valued at $44,000 after buying an additional 1,352 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in Foot Locker by 106.0% during the 4th quarter. Verition Fund Management LLC now owns 300,696 shares of the athletic footwear retailer’s stock worth $9,367,000 after buying an additional 154,708 shares during the last quarter.

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.