Foot Locker, Inc. (NYSE:FL) Sees Large Growth in Short Interest

Foot Locker, Inc. (NYSE:FL) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 8,820,000 shares, an increase of 6.0% from the October 31st total of 8,320,000 shares. Approximately 10.5% of the company’s stock are sold short. Based on an average trading volume of 3,230,000 shares, the short-interest ratio is currently 2.7 days.

Analyst Ratings Changes

FL has been the topic of several recent analyst reports. Telsey Advisory Group restated a “market perform” rating and set a $27.00 price objective on shares of Foot Locker in a research note on Wednesday, August 28th. Barclays raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $27.00 to $34.00 in a report on Thursday, August 29th. Gordon Haskett initiated coverage on shares of Foot Locker in a report on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price target on the stock. Robert W. Baird cut their price target on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Finally, Needham & Company LLC started coverage on shares of Foot Locker in a report on Friday, November 22nd. They issued a “buy” rating and a $27.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.87.

Foot Locker Trading Down 2.9 %

Shares of NYSE:FL traded down $0.72 during trading on Tuesday, reaching $24.42. 2,612,292 shares of the company traded hands, compared to its average volume of 3,237,404. The business’s fifty day moving average is $24.22 and its 200-day moving average is $25.85. Foot Locker has a 52-week low of $20.47 and a 52-week high of $35.60. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -6.21, a P/E/G ratio of 0.74 and a beta of 1.46. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15.

Institutional Trading of Foot Locker

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Foot Locker during the second quarter valued at $31,000. Fifth Third Bancorp increased its holdings in Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after buying an additional 733 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Foot Locker by 156.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after purchasing an additional 985 shares during the period. Headlands Technologies LLC bought a new stake in shares of Foot Locker during the 2nd quarter valued at about $43,000. Finally, nVerses Capital LLC purchased a new position in shares of Foot Locker during the 3rd quarter valued at about $47,000.

About Foot Locker

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.