Needham & Company LLC Reiterates Buy Rating for Foot Locker (NYSE:FL)

Foot Locker (NYSE:FL)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $24.00 price target on the athletic footwear retailer’s stock. Needham & Company LLC’s target price would indicate a potential upside of 34.71% from the stock’s previous close.

FL has been the subject of several other reports. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 target price on shares of Foot Locker in a research note on Wednesday. The Goldman Sachs Group reduced their price target on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a research report on Thursday, December 5th. Guggenheim lowered their price objective on Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Barclays reduced their target price on Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Robert W. Baird dropped their price target on Foot Locker from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $23.35.

Foot Locker Price Performance

FL stock opened at $17.82 on Wednesday. The stock has a 50-day simple moving average of $19.91 and a 200-day simple moving average of $23.33. The firm has a market cap of $1.69 billion, a P/E ratio of -3.95, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. 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 has a 1 year low of $16.92 and a 1 year high of $33.94.

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

Institutional Trading of Foot Locker

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Moody National Bank Trust Division bought a new stake in Foot Locker during the fourth quarter worth approximately $610,000. Geode Capital Management LLC raised its position in Foot Locker by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after acquiring an additional 25,394 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Foot Locker in the 3rd quarter valued at about $829,000. Allspring Global Investments Holdings LLC boosted its position in shares of Foot Locker by 88.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock valued at $115,365,000 after purchasing an additional 2,500,396 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Foot Locker in the 3rd quarter worth approximately $793,000.

Foot Locker Company Profile

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.