Foot Locker (NYSE:FL) Trading Down 3.4% – Should You Sell?

Foot Locker, Inc. (NYSE:FL)’s share price fell 3.4% on Wednesday . The stock traded as low as $24.26 and last traded at $24.26. 812,175 shares were traded during mid-day trading, a decline of 75% from the average session volume of 3,298,221 shares. The stock had previously closed at $25.12.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FL shares. Morgan Stanley downgraded shares of Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $24.00 to $18.00 in a research report on Thursday, July 18th. Evercore ISI increased their target price on Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, August 26th. Barclays raised Foot Locker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Wedbush reissued a “neutral” rating and set a $25.00 price target on shares of Foot Locker in a research report on Wednesday, June 12th. Finally, StockNews.com downgraded Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Foot Locker has an average rating of “Hold” and a consensus price target of $25.87.

Foot Locker Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66. The stock has a 50 day moving average price of $28.65 and a two-hundred day moving average price of $25.70.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. On average, research analysts forecast that Foot Locker, Inc. will post 1.51 EPS for the current fiscal year.

Insider Activity

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $33.22, for a total transaction of $17,911,559.60. Following the transaction, the insider now directly owns 10,393,592 shares in the company, valued at $345,275,126.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 787,566 shares of company stock worth $26,090,866. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Foot Locker

A number of large investors have recently added to or reduced their stakes in FL. Susquehanna Fundamental Investments LLC bought a new position in shares of Foot Locker in the first quarter valued at approximately $3,488,000. Public Employees Retirement System of Ohio acquired a new position in Foot Locker in the 1st quarter valued at $2,194,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Foot Locker in the 1st quarter valued at $2,670,000. Verition Fund Management LLC raised its holdings in Foot Locker by 106.0% in the 4th quarter. Verition Fund Management LLC now owns 300,696 shares of the athletic footwear retailer’s stock worth $9,367,000 after acquiring an additional 154,708 shares during the period. Finally, Interval Partners LP acquired a new position in Foot Locker during the 1st quarter worth $5,700,000.

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.