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

Needham & Company LLC reiterated their buy rating on shares of Foot Locker (NYSE:FL) in a research note published on Wednesday,Benzinga reports. Needham & Company LLC currently has a $25.00 price target on the athletic footwear retailer’s stock.

A number of other equities research analysts have also issued reports on the stock. Citigroup upped their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. UBS Group cut their price target on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Piper Sandler decreased their price objective on Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. JPMorgan Chase & Co. lowered their price objective on Foot Locker from $27.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, December 4th. Finally, Evercore ISI decreased their price target on Foot Locker from $38.00 to $32.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.18.

Foot Locker Price Performance

Shares of NYSE FL traded up $0.25 during mid-day trading on Wednesday, reaching $22.32. The company’s stock had a trading volume of 266,768 shares, compared to its average volume of 3,358,817. The stock has a market capitalization of $2.12 billion, a P/E ratio of -4.95, a P/E/G ratio of 0.86 and a beta of 1.46. Foot Locker has a 1-year low of $19.33 and a 1-year high of $35.60. The stock has a 50-day moving average of $23.54 and a two-hundred day moving average of $25.74. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67.

Foot Locker (NYSE:FL) last issued its earnings results 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 positive return on equity of 2.91% and a negative net margin of 5.24%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate 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. Quarry LP purchased a new position in Foot Locker in the second quarter worth $31,000. Fifth Third Bancorp boosted its holdings in Foot Locker by 116.0% during the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after buying an additional 733 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Foot Locker by 156.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after buying an additional 985 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Foot Locker in the 2nd quarter worth approximately $43,000. Finally, nVerses Capital LLC purchased a new position in Foot Locker during the 3rd 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.