Foot Locker’s (FL) Buy Rating Reiterated at Needham & Company LLC

Foot Locker (NYSE:FL)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $25.00 price target on the athletic footwear retailer’s stock. Needham & Company LLC’s price objective suggests a potential upside of 12.21% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley reduced their price objective on Foot Locker from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, December 6th. StockNews.com downgraded Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. dropped their price objective on shares of Foot Locker from $27.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, December 4th. Telsey Advisory Group reduced their target price on shares of Foot Locker from $30.00 to $24.00 and set a “market perform” rating on the stock in a research note on Thursday, December 5th. Finally, UBS Group lowered their target price on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.18.

Foot Locker Trading Up 1.0 %

FL stock opened at $22.28 on Wednesday. The firm has a fifty day moving average price of $23.52 and a 200 day moving average price of $25.71. Foot Locker has a fifty-two week low of $19.33 and a fifty-two week high of $35.60. The firm has a market cap of $2.11 billion, a PE ratio of -4.94, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46. 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, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Sell-side analysts anticipate that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of Foot Locker

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Foot Locker by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer’s stock worth $117,123,000 after purchasing an additional 71,152 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Foot Locker by 23.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock valued at $72,279,000 after purchasing an additional 557,489 shares during the last quarter. Geode Capital Management LLC increased its holdings in Foot Locker by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after buying an additional 25,394 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Foot Locker by 10.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock worth $29,341,000 after acquiring an additional 106,402 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Foot Locker by 3.6% during the 3rd 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 buying an additional 38,318 shares during the last quarter.

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.