Foot Locker (FL) Rating Increased to Buy at ValuEngine
Foot Locker (NYSE:FL) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Several other analysts also recently issued reports on the company. Canaccord Genuity set a $42.00 price target on Foot Locker and gave the stock a “hold” rating in a research note on Tuesday, November 21st. Buckingham Research upped their price target on Foot Locker from $29.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, November 20th. Susquehanna Bancshares upped their price target on Foot Locker from $37.00 to $50.00 and gave the stock a “positive” rating in a research note on Monday, November 20th. Telsey Advisory Group upped their price target on Foot Locker from $34.00 to $44.00 and gave the stock a “market perform” rating in a research note on Monday, November 20th. Finally, Wells Fargo & Company set a $42.00 price target on Foot Locker and gave the stock a “hold” rating in a research note on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $53.26.
Shares of Foot Locker (FL) traded up $0.47 during mid-day trading on Friday, reaching $43.31. The company’s stock had a trading volume of 5,990,000 shares, compared to its average volume of 6,250,967. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.08 and a current ratio of 4.39. Foot Locker has a 12 month low of $28.42 and a 12 month high of $79.43. The firm has a market cap of $5,370.35, a price-to-earnings ratio of 10.26, a P/E/G ratio of 2.13 and a beta of 0.81.
A number of large investors have recently made changes to their positions in FL. Renaissance Technologies LLC boosted its stake in Foot Locker by 1,744.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,372,300 shares of the athletic footwear retailer’s stock valued at $67,627,000 after purchasing an additional 1,297,900 shares during the period. Rockefeller Financial Services Inc. bought a new stake in Foot Locker during the 3rd quarter valued at approximately $42,618,000. Bank of New York Mellon Corp boosted its stake in Foot Locker by 32.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,591,593 shares of the athletic footwear retailer’s stock valued at $126,495,000 after purchasing an additional 870,899 shares during the period. Koch Industries Inc. bought a new stake in Foot Locker during the 2nd quarter valued at approximately $720,000. Finally, Canada Pension Plan Investment Board raised its holdings in Foot Locker by 65.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,819,210 shares of the athletic footwear retailer’s stock valued at $89,651,000 after acquiring an additional 718,800 shares in the last quarter. Hedge funds and other institutional investors own 88.22% of the company’s stock.
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About Foot Locker
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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