Foot Locker (NYSE:FL) Earns Accumulate Rating from Analysts at Gordon Haskett

Gordon Haskett started coverage on shares of Foot Locker (NYSE:FL) in a report issued on Monday morning, MarketBeat Ratings reports. The firm issued an accumulate rating and a $27.00 target price on the athletic footwear retailer’s stock.

A number of other equities analysts have also recently commented on FL. StockNews.com cut shares of Foot Locker from a hold rating to a sell rating in a research report on Friday, September 20th. Wedbush reaffirmed a neutral rating and set a $25.00 target price on shares of Foot Locker in a report on Wednesday, June 12th. Evercore ISI increased their price target on shares of Foot Locker from $34.00 to $38.00 and gave the company an outperform rating in a report on Monday, August 26th. Piper Sandler restated a neutral rating and set a $30.00 price objective on shares of Foot Locker in a report on Friday, August 23rd. Finally, Morgan Stanley downgraded Foot Locker from an equal weight rating to an underweight rating and decreased their target price for the company from $24.00 to $18.00 in a research report on Thursday, July 18th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $25.94.

Foot Locker Stock Up 2.2 %

Shares of FL stock opened at $23.37 on Monday. Foot Locker has a 52-week low of $19.44 and a 52-week high of $35.60. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -6.16, a PEG ratio of 0.58 and a beta of 1.43. The firm’s 50-day moving average is $28.22 and its 200-day moving average is $25.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66.

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 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 the consensus estimate of $1.88 billion. Sell-side analysts predict that Foot Locker will post 1.51 EPS for the current year.

Insider Buying and Selling

In related 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 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 $375,137,413.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 787,566 shares of company stock worth $26,090,866. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new position in Foot Locker in the second quarter valued at about $31,000. Fifth Third Bancorp boosted its position in Foot Locker by 116.0% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after buying an additional 733 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Foot Locker by 156.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock worth $40,000 after buying an additional 985 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Foot Locker in the 2nd quarter valued at $43,000. Finally, Covestor Ltd boosted its holdings in shares of Foot Locker by 43,900.0% during the 1st quarter. Covestor Ltd now owns 2,200 shares of the athletic footwear retailer’s stock valued at $63,000 after acquiring an additional 2,195 shares in 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.