Investment analysts at Credit Suisse Group initiated coverage on shares of Foot Locker (NYSE:FL) in a research note issued to investors on Monday, March 12th, MarketBeat.com reports. The firm set an “outperform” rating and a $50.00 price target on the athletic footwear retailer’s stock. Credit Suisse Group’s target price indicates a potential upside of 7.62% from the stock’s current price.
FL has been the topic of a number of other research reports. Deutsche Bank raised Foot Locker from a “hold” rating to a “buy” rating and increased their price target for the stock from $38.00 to $45.00 in a research report on Friday, November 17th. Zacks Investment Research raised Foot Locker from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Tuesday, December 26th. Piper Jaffray set a $35.00 price target on Foot Locker and gave the stock a “hold” rating in a research report on Tuesday, November 14th. Pivotal Research set a $57.00 price target on Foot Locker and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, Wedbush reissued an “outperform” rating and set a $59.00 price target (up previously from $52.00) on shares of Foot Locker in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $54.75.
Shares of Foot Locker stock traded down $1.45 on Monday, hitting $46.46. The stock had a trading volume of 1,954,234 shares, compared to its average volume of 3,734,058. Foot Locker has a twelve month low of $28.42 and a twelve month high of $77.86. The company has a current ratio of 4.14, a quick ratio of 2.07 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $5,792.39, a price-to-earnings ratio of 11.30, a PEG ratio of 1.67 and a beta of 0.85.
In other news, CEO Lewis Phillip Kimble sold 11,043 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $42.71, for a total value of $471,646.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew M. Mckenna sold 10,899 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $45.82, for a total value of $499,392.18. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,603,700. The disclosure for this sale can be found here. Insiders sold a total of 69,442 shares of company stock valued at $3,338,499 over the last quarter. 2.90% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FL. Nationwide Fund Advisors increased its holdings in Foot Locker by 32.4% in the third quarter. Nationwide Fund Advisors now owns 50,182 shares of the athletic footwear retailer’s stock valued at $1,767,000 after purchasing an additional 12,285 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in Foot Locker in the third quarter valued at $1,137,000. Crossmark Global Holdings Inc. acquired a new stake in Foot Locker in the third quarter valued at $341,000. State of Wisconsin Investment Board increased its holdings in Foot Locker by 5.6% in the third quarter. State of Wisconsin Investment Board now owns 121,616 shares of the athletic footwear retailer’s stock valued at $4,283,000 after purchasing an additional 6,408 shares during the period. Finally, Swiss National Bank increased its holdings in Foot Locker by 0.5% in the third quarter. Swiss National Bank now owns 484,900 shares of the athletic footwear retailer’s stock valued at $17,078,000 after purchasing an additional 2,400 shares during the period. Institutional investors and hedge funds own 96.38% of the company’s stock.
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Foot Locker Company Profile
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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