Look For Institutional Buying In Foot Locker Inc (NYSE: FL)

Foot Locker Inc (FL) concluded trading on Thursday at a closing price of $23.66, with 3.03 million shares of worth about $71.78 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 32.25% during that period and on March 21, 2024 the price saw a gain of about 0.17%. Currently the company’s common shares owned by public are about 91.91M shares, out of which, 81.44M shares are available for trading.

Stock saw a price change of 3.27% in past 5 days and over the past one month there was a price change of -29.01%. Year-to-date (YTD), FL shares are showing a performance of -24.04% which decreased to -44.56% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $14.84 but also hit the highest price of $42.99 during that period. The average intraday trading volume for Foot Locker Inc shares is 3.63 million. The stock is currently trading -16.86% below its 20-day simple moving average (SMA20), while that difference is down -18.28% for SMA50 and it goes to -5.88% lower than SMA200.

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Foot Locker Inc (NYSE: FL) currently have 91.91M outstanding shares and institutions hold larger chunk of about 94.58% of that.

The stock has a current market capitalization of $2.23B and its 3Y-monthly beta is at 1.41. It has posted earnings per share of -$3.50 in the same period. It has Quick Ratio of 0.55 while making debt-to-equity ratio of 1.02. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FL, volatility over the week remained 3.19% while standing at 5.07% over the month.

Analysts are in expectations that Foot Locker Inc (FL) stock would likely to be making an EPS of $0.13 in the current quarter, while forecast for next quarter EPS is -$0.01 and it is $2.22 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.08 which is $0.19 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.7 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 9.18% while it is estimated to increase by 43.22% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on March 11, 2024 offering a Neutral rating for the stock and assigned a target price range of between $12 and $23 to it. Coverage by Telsey Advisory Group stated Foot Locker Inc (FL) stock as a Market perform in their note to investors on March 07, 2024, suggesting a price target of $28 for the stock. On March 01, 2024, Telsey Advisory Group Reiterated their recommendations, while on December 14, 2023, Piper Sandler Upgrade their ratings for the stock with a price target of $33. Stock get an Outperform rating from Telsey Advisory Group on November 30, 2023.

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