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

Foot Locker (NYSE:FL)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $27.00 target price on the athletic footwear retailer’s stock. Needham & Company LLC’s price target suggests a potential upside of 27.60% from the company’s current price.

Several other equities research analysts have also recently commented on FL. Telsey Advisory Group restated a “market perform” rating and issued a $27.00 target price on shares of Foot Locker in a research note on Wednesday, August 28th. Barclays upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. Gordon Haskett started coverage on Foot Locker in a research report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target on the stock. Williams Trading raised Foot Locker from a “sell” rating to a “hold” rating and boosted their price target for the stock from $17.00 to $21.00 in a research report on Wednesday, November 27th. Finally, Robert W. Baird lowered their price target on Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.71.

Foot Locker Trading Down 3.9 %

NYSE:FL opened at $21.16 on Wednesday. Foot Locker has a fifty-two week low of $19.33 and a fifty-two week high of $35.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. The stock has a market capitalization of $2.01 billion, a PE ratio of -4.72, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46. The business’s 50-day simple moving average is $24.07 and its 200-day simple moving average is $25.84.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the firm earned $0.30 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts expect that Foot Locker will post 1.52 earnings per share for the current fiscal year.

Institutional Trading of Foot Locker

Institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Foot Locker during the 2nd quarter worth $31,000. Fifth Third Bancorp increased its holdings in Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after purchasing an additional 733 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock worth $40,000 after purchasing an additional 985 shares in the last quarter. Headlands Technologies LLC acquired a new position in Foot Locker in the 2nd quarter worth about $43,000. Finally, nVerses Capital LLC acquired a new stake in shares of Foot Locker in the third quarter valued at about $47,000.

About Foot Locker

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.