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 note issued to investors on Wednesday,Benzinga reports. They currently have a $24.00 price objective on the athletic footwear retailer’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 34.71% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Morgan Stanley cut their price target on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, December 6th. JPMorgan Chase & Co. decreased their price target on Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price objective on shares of Foot Locker in a report on Wednesday. Robert W. Baird lowered their target price on Foot Locker from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Finally, 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. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $23.35.

Foot Locker Stock Down 2.4 %

FL opened at $17.82 on Wednesday. Foot Locker has a fifty-two week low of $16.92 and a fifty-two week high of $33.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -3.95, a PEG ratio of 0.53 and a beta of 1.55. The company has a fifty day moving average of $19.91 and a two-hundred day moving average of $23.33.

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

Institutional Trading of Foot Locker

Institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. boosted its stake in shares of Foot Locker by 81.6% during the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock worth $31,000 after purchasing an additional 648 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Foot Locker during the 4th quarter valued at $32,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Foot Locker during the 3rd quarter worth $58,000. R Squared Ltd purchased a new position in shares of Foot Locker in the 4th quarter worth $50,000. Finally, Sterling Capital Management LLC boosted its holdings in Foot Locker by 819.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock valued at $57,000 after acquiring an additional 2,343 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.