Foot Locker (NYSE:FL) Receives Buy Rating from Needham & Company LLC

Foot Locker (NYSE:FL)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $24.00 target price on the athletic footwear retailer’s stock. Needham & Company LLC’s target price would suggest a potential upside of 33.49% from the company’s current price.

Several other brokerages also recently weighed in on FL. Guggenheim dropped their target price on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, December 5th. The Goldman Sachs Group cut their target price on Foot Locker from $25.00 to $22.00 and set a “sell” rating for the company in a research report on Thursday, December 5th. Barclays lowered their price target on Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Evercore ISI cut their price objective on shares of Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a report on Monday. Finally, Jefferies Financial Group lowered their target price on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.35.

Foot Locker Stock Performance

NYSE FL traded up $0.61 during trading hours on Wednesday, hitting $17.98. 5,885,411 shares of the company’s stock traded hands, compared to its average volume of 3,214,264. Foot Locker has a 52 week low of $16.92 and a 52 week high of $33.94. The firm has a market capitalization of $1.71 billion, a P/E ratio of -3.98, a P/E/G ratio of 0.53 and a beta of 1.48. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average price is $19.98 and its two-hundred day moving average price is $23.37.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the business posted $0.38 earnings per share. The business’s quarterly revenue was down 5.7% on a year-over-year basis. Equities research analysts predict that Foot Locker will post 1.23 EPS for the current year.

Institutional Trading of Foot Locker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FL. Harbour Investments Inc. grew its stake in shares of Foot Locker by 81.6% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after buying an additional 648 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Foot Locker in the fourth quarter worth about $32,000. R Squared Ltd purchased a new position in Foot Locker in the 4th quarter worth about $50,000. Sterling Capital Management LLC lifted its holdings in Foot Locker by 819.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock valued at $57,000 after buying an additional 2,343 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Foot Locker in the 3rd quarter valued at about $58,000.

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.