Foot Locker (NYSE:FL) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Foot Locker (NYSE:FL) in a research report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $24.00 price target on the athletic footwear retailer’s stock.

Other research analysts have also issued research reports about the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price target on shares of Foot Locker in a research report on Wednesday. Robert W. Baird lowered their target price on shares of Foot Locker from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Guggenheim dropped 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 report on Thursday, December 5th. Jefferies Financial Group decreased their price objective on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.18.

Foot Locker Stock Performance

Shares of FL opened at $18.25 on Wednesday. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -4.05, a PEG ratio of 0.53 and a beta of 1.55. Foot Locker has a 12 month low of $16.92 and a 12 month high of $33.94. The firm has a fifty day simple moving average of $19.91 and a 200 day simple moving average of $23.33. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last posted its quarterly earnings data 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 company had revenue of $2.25 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $0.38 EPS. Research analysts forecast that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Harbour Investments Inc. boosted its position in shares of Foot Locker by 81.6% in the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after acquiring an additional 648 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Foot Locker in the 4th quarter valued at about $32,000. R Squared Ltd bought a new stake in Foot Locker in the 4th quarter valued at about $50,000. Sterling Capital Management LLC grew its position in shares of 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 worth $57,000 after purchasing an additional 2,343 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Foot Locker during the third quarter worth approximately $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.