Foot Locker (NYSE:FL) Price Target Lowered to $24.00 at Needham & Company LLC

Foot Locker (NYSE:FL) had its price objective trimmed by Needham & Company LLC from $25.00 to $24.00 in a report published on Friday morning, Marketbeat.com reports. The firm currently has a buy rating on the athletic footwear retailer’s stock.

A number of other equities research analysts also recently issued reports on the stock. Guggenheim decreased their price target on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and upped their price target for the company from $17.00 to $21.00 in a research note on Wednesday, November 27th. Barclays reduced their target price on shares of Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. JPMorgan Chase & Co. reduced their target price on shares of Foot Locker from $27.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Gordon Haskett started coverage on shares of Foot Locker in a research note on Monday, October 7th. They issued an “accumulate” rating and a $27.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.94.

Foot Locker Trading Down 1.3 %

FL stock opened at $20.90 on Friday. Foot Locker has a one year low of $19.33 and a one year high of $35.60. The company’s fifty day moving average price is $22.09 and its 200-day moving average price is $25.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45.

Foot Locker (NYSE:FL) last released its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the firm posted $0.30 EPS. Foot Locker’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts forecast that Foot Locker will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its holdings in Foot Locker by 25.7% during the 4th quarter. Jennison Associates LLC now owns 640,351 shares of the athletic footwear retailer’s stock worth $13,934,000 after acquiring an additional 130,927 shares in the last quarter. R Squared Ltd bought a new stake in shares of Foot Locker in the 4th quarter valued at about $50,000. KBC Group NV boosted its holdings in shares of Foot Locker by 5,148.1% in the 4th quarter. KBC Group NV now owns 121,493 shares of the athletic footwear retailer’s stock valued at $2,644,000 after buying an additional 119,178 shares in the last quarter. Moody National Bank Trust Division bought a new stake in shares of Foot Locker in the 4th quarter valued at about $610,000. Finally, Fiduciary Alliance LLC bought a new stake in shares of Foot Locker in the 4th quarter valued at about $203,000.

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.