Credit Suisse Group Begins Coverage on Foot Locker (FL)
Stock analysts at Credit Suisse Group initiated coverage on shares of Foot Locker (NYSE:FL) in a research report issued on Monday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $50.00 price target on the athletic footwear retailer’s stock. Credit Suisse Group’s target price would suggest a potential upside of 14.00% from the company’s previous close.
A number of other analysts have also recently commented on FL. Buckingham Research cut their price target on shares of Foot Locker from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, March 5th. Pivotal Research reiterated a “buy” rating and issued a $57.00 price target (down previously from $65.00) on shares of Foot Locker in a research note on Monday, March 5th. Zacks Investment Research cut shares of Foot Locker from a “buy” rating to a “hold” rating in a research note on Monday. Citigroup cut their price target on shares of Foot Locker from $54.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, March 5th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Foot Locker in a research note on Tuesday, March 6th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $54.23.
Shares of Foot Locker (NYSE FL) opened at $43.86 on Monday. The company has a market cap of $5,320.00, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.14 and a quick ratio of 2.07. Foot Locker has a 12 month low of $28.42 and a 12 month high of $77.86.
In related news, Director Jarobin Gilbert, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $43.44, for a total transaction of $65,160.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Giovanna Cipriano sold 21,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $50.05, for a total transaction of $1,051,050.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,442 shares of company stock worth $3,338,499. 1.73% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its holdings in Foot Locker by 205.0% in the 3rd quarter. Assetmark Inc. now owns 3,834 shares of the athletic footwear retailer’s stock valued at $135,000 after buying an additional 2,577 shares during the period. CenterStar Asset Management LLC bought a new position in Foot Locker in the 4th quarter valued at about $138,000. Truewealth LLC bought a new position in Foot Locker in the 4th quarter valued at about $169,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Foot Locker in the 4th quarter valued at about $188,000. Finally, Cigna Investments Inc. New bought a new position in Foot Locker in the 4th quarter valued at about $217,000. 96.49% of the stock is currently owned by institutional investors and hedge funds.
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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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