Foot Locker (NYSE:FL) Price Target Cut to $33.00

Foot Locker (NYSE:FLGet Rating) had its price target decreased by investment analysts at Morgan Stanley from $36.00 to $33.00 in a report issued on Tuesday, MarketBeat.com reports. The firm currently has an “equal weight” rating on the athletic footwear retailer’s stock. Morgan Stanley’s price target would suggest a potential downside of 12.07% from the stock’s previous close.

FL has been the topic of a number of other reports. StockNews.com raised shares of Foot Locker from a “sell” rating to a “hold” rating in a research note on Thursday, November 17th. Cowen increased their price objective on shares of Foot Locker from $35.00 to $39.00 in a research note on Monday. Cowen increased their price objective on shares of Foot Locker from $35.00 to $39.00 in a research note on Monday. Bank of America raised shares of Foot Locker from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $28.00 to $43.00 in a research note on Friday, August 19th. Finally, Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. Twenty investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $39.61.

Foot Locker Stock Performance

NYSE:FL opened at $37.53 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 1.54 and a debt-to-equity ratio of 0.14. Foot Locker has a fifty-two week low of $23.85 and a fifty-two week high of $50.34. The stock has a market cap of $3.50 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 0.26 and a beta of 1.24. The firm’s fifty day simple moving average is $33.20 and its 200-day simple moving average is $31.53.

Insider Transactions at Foot Locker

In related news, major shareholder Vesa Equity Investment S.A R.L sold 81,199 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $36.74, for a total value of $2,983,251.26. Following the transaction, the insider now owns 12,659,379 shares in the company, valued at $465,105,584.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Vesa Equity Investment S.A R.L sold 81,199 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $36.74, for a total value of $2,983,251.26. Following the transaction, the insider now owns 12,659,379 shares in the company, valued at $465,105,584.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Todd Greener sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $30.99, for a total transaction of $77,475.00. Following the completion of the transaction, the senior vice president now owns 8,421 shares in the company, valued at approximately $260,966.79. The disclosure for this sale can be found here. Insiders have sold a total of 557,380 shares of company stock worth $18,395,121 in the last three months. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Foot Locker

Several large investors have recently bought and sold shares of FL. Point72 Asset Management L.P. acquired a new stake in Foot Locker in the third quarter valued at approximately $28,736,000. Renaissance Technologies LLC grew its position in shares of Foot Locker by 5,122.3% during the first quarter. Renaissance Technologies LLC now owns 913,900 shares of the athletic footwear retailer’s stock worth $27,106,000 after buying an additional 896,400 shares in the last quarter. National Bank of Canada FI grew its position in shares of Foot Locker by 96,732.3% during the third quarter. National Bank of Canada FI now owns 750,450 shares of the athletic footwear retailer’s stock worth $23,362,000 after buying an additional 749,675 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Foot Locker by 2,684.7% during the third quarter. Victory Capital Management Inc. now owns 745,182 shares of the athletic footwear retailer’s stock worth $23,198,000 after buying an additional 718,422 shares in the last quarter. Finally, Armistice Capital LLC grew its position in shares of Foot Locker by 131.8% during the third quarter. Armistice Capital LLC now owns 1,041,769 shares of the athletic footwear retailer’s stock worth $32,430,000 after buying an additional 592,349 shares in the last quarter. Institutional investors and hedge funds own 98.06% of the company’s stock.

Foot Locker Company Profile

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Foot Locker, Inc, through its subsidiaries, operates as an athletic footwear and apparel retailer. The company engages in the retail of athletic footwear, apparel, accessories, equipment, and team licensed merchandise under the Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, atmos, WSS, Footaction, and Sidestep brand names.

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