Foot Locker (NYSE:FL) Stock Price Up 3.8% – Here’s Why

Foot Locker, Inc. (NYSE:FL) shares rose 3.8% on Tuesday . The stock traded as high as $24.99 and last traded at $24.68. Approximately 845,372 shares changed hands during trading, a decline of 74% from the average daily volume of 3,275,724 shares. The stock had previously closed at $23.77.

Analyst Ratings Changes

FL has been the topic of several research reports. Barclays raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Morgan Stanley downgraded shares of Foot Locker from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $24.00 to $18.00 in a research report on Thursday, July 18th. Piper Sandler reaffirmed a “neutral” rating and issued a $30.00 target price on shares of Foot Locker in a report on Friday, August 23rd. Gordon Haskett initiated coverage on shares of Foot Locker in a report on Monday, October 7th. They issued an “accumulate” rating and a $27.00 target price on the stock. Finally, Evercore ISI lifted their target price 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. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.94.

Foot Locker Trading Up 3.5 %

The business has a 50 day moving average price of $27.99 and a 200-day moving average price of $25.59. The company has a market cap of $2.33 billion, a P/E ratio of -6.69, a PEG ratio of 0.57 and a beta of 1.43. The company has a current ratio of 1.66, a quick ratio of 0.49 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) EPS for the quarter, beating 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 analyst estimates of $1.88 billion. Analysts forecast that Foot Locker, Inc. will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling 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 that occurred on Tuesday, August 20th. The stock was 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 in the company, valued at $375,137,413.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 787,566 shares of company stock valued at $26,090,866. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new position in Foot Locker in the second quarter worth $31,000. Fifth Third Bancorp lifted its position in shares of Foot Locker by 116.0% during the 2nd 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 during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Foot Locker by 156.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after buying an additional 985 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Foot Locker during the 2nd quarter valued at $43,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Foot Locker during the 2nd quarter valued at $61,000.

About Foot Locker

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.