Foot Locker (NYSE:FL) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Foot Locker (NYSE:FL) from a sell rating to a hold rating in a research report released on Thursday morning.

Other analysts have also issued research reports about the company. Piper Sandler restated a neutral rating and issued a $30.00 target price on shares of Foot Locker in a report on Friday, August 23rd. Wedbush reissued a neutral rating and issued a $25.00 price objective on shares of Foot Locker in a research note on Wednesday, June 12th. Morgan Stanley cut Foot Locker from an equal weight rating to an underweight rating and lowered their target price for the company from $24.00 to $18.00 in a research note on Thursday, July 18th. Barclays raised shares of Foot Locker from an equal weight rating to an overweight rating and increased their price target for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Finally, Citigroup boosted their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the company a neutral rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $26.40.

Foot Locker Stock Up 6.2 %

FL stock opened at $26.94 on Thursday. 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 firm has a market capitalization of $2.56 billion, a P/E ratio of -7.11, a P/E/G ratio of 0.61 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 company’s 50 day simple moving average is $28.17 and its 200-day simple moving average is $25.73.

Insiders Place Their Bets

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 value of $17,911,559.60. Following the transaction, the insider now directly owns 10,393,592 shares of the company’s stock, valued at approximately $345,275,126.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 787,566 shares of company stock valued at $26,090,866 over the last three months. 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 company. Susquehanna Fundamental Investments LLC bought a new stake in Foot Locker during the first quarter valued at about $3,488,000. Public Employees Retirement System of Ohio bought a new stake in Foot Locker during the 1st quarter valued at approximately $2,194,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Foot Locker in the 1st quarter valued at approximately $2,670,000. Quadrant Capital Group LLC increased its position in 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 worth $44,000 after buying an additional 1,352 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in shares of Foot Locker by 106.0% during the fourth 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.