Foot Locker, Inc. (NYSE:FL) Sees Significant Decrease in Short Interest

Foot Locker, Inc. (NYSE:FLGet Free Report) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 11,180,000 shares, a decrease of 9.3% from the February 29th total of 12,330,000 shares. Based on an average trading volume of 3,730,000 shares, the short-interest ratio is presently 3.0 days. Approximately 13.7% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms have issued reports on FL. Jefferies Financial Group lowered their target price on shares of Foot Locker from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Wednesday, March 6th. Bank of America lowered their price objective on shares of Foot Locker from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Citigroup upgraded shares of Foot Locker from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $19.00 to $24.00 in a research note on Friday, March 22nd. Morgan Stanley lowered their price objective on shares of Foot Locker from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 7th. Finally, Guggenheim lowered their price objective on shares of Foot Locker from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.94.

View Our Latest Stock Report on Foot Locker

Institutional Trading of Foot Locker

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Foot Locker by 9.6% in the third quarter. Vanguard Group Inc. now owns 10,292,817 shares of the athletic footwear retailer’s stock worth $178,580,000 after buying an additional 902,610 shares during the last quarter. BlackRock Inc. lifted its position in Foot Locker by 2.1% in the second quarter. BlackRock Inc. now owns 9,590,499 shares of the athletic footwear retailer’s stock worth $259,998,000 after buying an additional 200,799 shares during the last quarter. Macquarie Group Ltd. lifted its position in Foot Locker by 7,437.5% in the first quarter. Macquarie Group Ltd. now owns 3,678,300 shares of the athletic footwear retailer’s stock worth $145,992,000 after buying an additional 3,629,500 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Foot Locker by 14.9% in the second quarter. Goldman Sachs Group Inc. now owns 3,485,651 shares of the athletic footwear retailer’s stock worth $94,496,000 after buying an additional 451,050 shares during the last quarter. Finally, Morgan Stanley lifted its position in Foot Locker by 59.1% in the third quarter. Morgan Stanley now owns 3,446,965 shares of the athletic footwear retailer’s stock worth $59,805,000 after buying an additional 1,280,389 shares during the last quarter.

Foot Locker Price Performance

FL traded down $1.54 during trading on Tuesday, reaching $25.98. 4,170,577 shares of the company traded hands, compared to its average volume of 3,821,756. The firm has a fifty day simple moving average of $28.71 and a 200 day simple moving average of $25.88. Foot Locker has a 12-month low of $14.84 and a 12-month high of $42.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 1.72. The company has a market cap of $2.45 billion, a P/E ratio of -7.42, a PEG ratio of 0.68 and a beta of 1.43.

Foot Locker (NYSE:FLGet Free Report) last posted its earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the firm posted $0.97 earnings per share. Foot Locker’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that Foot Locker will post 1.56 EPS for the current year.

About Foot Locker

(Get Free Report)

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 youth culture 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.

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