Foot Locker Sees Unusually High Options Volume (NYSE:FL)

Foot Locker, Inc. (NYSE:FL) was the target of some unusual options trading activity on Friday. Stock traders bought 18,397 put options on the company. This represents an increase of approximately 129% compared to the typical volume of 8,029 put options.

Foot Locker Stock Performance

Shares of FL stock opened at $14.52 on Friday. Foot Locker has a 52 week low of $14.34 and a 52 week high of $33.94. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -3.22, a PEG ratio of 0.53 and a beta of 1.55. The company has a 50-day simple moving average of $18.15 and a 200 day simple moving average of $21.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67.

Foot Locker (NYSE:FL) last issued its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The business’s revenue was down 5.7% on a year-over-year basis. On average, sell-side analysts predict that Foot Locker will post 1.23 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on FL shares. JPMorgan Chase & Co. reduced their target price on Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, January 24th. Piper Sandler cut their price objective on Foot Locker from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Evercore ISI lowered their target price on Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price target on shares of Foot Locker in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group reduced their price target on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.81.

Institutional Investors Weigh In On Foot Locker

Institutional investors have recently made changes to their positions in the stock. Natixis Advisors LLC raised its holdings in Foot Locker by 8.9% in the 3rd quarter. Natixis Advisors LLC now owns 12,867 shares of the athletic footwear retailer’s stock valued at $332,000 after acquiring an additional 1,054 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Foot Locker in the third quarter worth $829,000. Charles Schwab Investment Management Inc. raised its stake in Foot Locker by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock valued at $28,775,000 after purchasing an additional 38,318 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Foot Locker during the third quarter worth about $282,000. Finally, Edgestream Partners L.P. grew its stake in Foot Locker by 477.2% during the third quarter. Edgestream Partners L.P. now owns 117,602 shares of the athletic footwear retailer’s stock worth $3,039,000 after buying an additional 97,226 shares in the last quarter.

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.