Exclusive: Could Foot Locker, Inc. See a Reversal After Breaking Its 52-Week High?

Exclusive: Could Foot Locker, Inc. See a Reversal After Breaking Its 52 Week High?

The stock of Foot Locker, Inc. (NYSE:FL) hit a new 52-week high and has $80.17 target or 8.00% above today’s $74.23 share price. The 6 months bullish chart indicates low risk for the $10.13 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $80.17 price target is reached, the company will be worth $810.40 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 231,905 shares traded hands. Foot Locker, Inc. (NYSE:FL) has risen 19.21% since April 20, 2016 and is uptrending. It has outperformed by 14.65% the S&P500.

Foot Locker, Inc. (NYSE:FL) Ratings Coverage

Out of 23 analysts covering Foot Locker Inc. (NYSE:FL), 15 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 65% are positive. $88 is the highest target while $27 is the lowest. The $76.33 average target is 2.83% above today’s ($74.23) stock price. Foot Locker Inc. has been the topic of 51 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Canaccord Genuity on Tuesday, August 25. Piper Jaffray maintained Foot Locker, Inc. (NYSE:FL) rating on Monday, August 24. Piper Jaffray has “Neutral” rating and $60 price target. The rating was initiated by Brean Capital with “Buy” on Thursday, October 15. The firm has “Buy” rating given on Monday, May 23 by Canaccord Genuity. The stock of Foot Locker, Inc. (NYSE:FL) earned “Neutral” rating by B. Riley & Co on Thursday, November 19. The stock has “Buy” rating given by Deutsche Bank on Friday, August 28. The firm has “Buy” rating by Deutsche Bank given on Thursday, September 17. The firm has “Buy” rating given on Monday, August 22 by B. Riley & Co. The firm has “Neutral” rating given on Friday, September 30 by Guggenheim. The firm earned “Neutral” rating on Monday, August 24 by B. Riley & Co.

According to Zacks Investment Research, “Foot Locker, Inc. is a leading global retailer operating primarily mall-based stores in North America, Europe, Asia and Australia. The company operates in two business segments, the Global Athletic Group and the Northern Group. The Global Athletic Group operates the following retail stores: Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footlocker.com. The Northern Group consists of four apparel formats: Northern Reflections, Northern Traditions, Northern Getaway and Northern Elements.”

Insitutional Activity: The institutional sentiment increased to 0.89 in Q2 2016. Its up 0.10, from 0.79 in 2016Q1. The ratio improved, as 83 funds sold all Foot Locker, Inc. shares owned while 204 reduced positions. 67 funds bought stakes while 160 increased positions. They now own 124.81 million shares or 10.72% less from 139.79 million shares in 2016Q1.
Bb&T Secs Ltd Liability Corporation has 0% invested in the company for 5,378 shares. State Of Wisconsin Investment Board owns 89,890 shares or 0.02% of their US portfolio. Moreover, Panagora Asset Mngmt has 0.09% invested in Foot Locker, Inc. (NYSE:FL) for 313,497 shares. Livforsakringsbolaget Skandia Omsesidigt accumulated 0.2% or 82,352 shares. State Common Retirement Fund reported 654,954 shares or 0.05% of all its holdings. Winslow Evans And Crocker holds 1,370 shares or 0% of its portfolio. Evercore Wealth Mgmt Llc has 1,045 shares for 0% of their US portfolio. Herndon Capital Ltd Limited Liability Company accumulated 0.02% or 8,008 shares. Citigroup owns 122,651 shares or 0.01% of their US portfolio. Meiji Yasuda Asset Mgmt owns 11,265 shares or 0.09% of their US portfolio. Aberdeen Asset Management Public Ltd Limited Liability Company Uk reported 39,397 shares or 0.01% of all its holdings. At National Bank holds 0.7% or 85,974 shares in its portfolio. Paradigm Capital Mgmt New York holds 74,010 shares or 0.49% of its portfolio. Eqis Mngmt has 0.04% invested in the company for 11,326 shares. State Of New Jersey Common Pension Fund D accumulated 0.02% or 89,000 shares.

Insider Transactions: Since July 8, 2016, the stock had 0 insider purchases, and 6 insider sales for $8.73 million net activity. Kimble Lewis Phillip had sold 43,479 shares worth $2.84 million. DIPAOLO NICHOLAS P sold $372,900 worth of stock. TURPIN CHERYL N also sold $691,590 worth of Foot Locker, Inc. (NYSE:FL) shares. Another trade for 1,000 shares valued at $57,355 was made by GILBERT JAROBIN JR on Friday, July 8. Shares for $3.40M were sold by Johnson Richard A on Friday, August 19. $1.36M worth of Foot Locker, Inc. (NYSE:FL) shares were sold by PETERS LAUREN B.

More important recent Foot Locker, Inc. (NYSE:FL) news were published by: Prnewswire.com which released: “Foot Locker, Inc. Reports 2016 Third Quarter Results” on November 18, 2016, also Prnewswire.com published article titled: “Foot Locker, Inc. Elects Ulice Payne And Kimberly K. Underhill As Directors”, Prnewswire.com published: “Foot Locker, Inc. To Report Third Quarter Financial Results On Friday …” on November 03, 2016. More interesting news about Foot Locker, Inc. (NYSE:FL) was released by: Reuters.com and their article: “BRIEF-Foot Locker, Inc. reports 2016 third quarter results” with publication date: November 18, 2016.

FL Company Profile

Foot Locker, Inc., incorporated on April 7, 1989, is a retailer of shoes and apparel. The Firm operates through two divisions: Athletic Stores and Direct-to-Customers. The Firm operates over 3,383 mall stores in the United States, Canada, Europe, Australia and New Zealand. As of January 30, 2016, the Company operated over 64 franchised stores, of which 40 were operating in the Middle East, 16 in Germany, and 8 in the Republic of Korea. It also operates approximately 10 Runners Point and Sidestep franchise stores in Switzerland..

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