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 note released on Wednesday morning,Benzinga reports. They currently have a $24.00 target price on the athletic footwear retailer’s stock.

FL has been the topic of several other reports. UBS Group decreased their price objective on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Evercore ISI cut their price objective on Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday. Morgan Stanley decreased their target price on Foot Locker from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, December 6th. Guggenheim lowered their price objective on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Finally, Jefferies Financial Group lowered their target price on Foot Locker from $27.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, December 4th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Foot Locker currently has a consensus rating of “Hold” and a consensus price target of $24.18.

Foot Locker Price Performance

Shares of NYSE:FL opened at $18.25 on Wednesday. The firm has a market capitalization of $1.73 billion, a PE ratio of -4.05, a PEG ratio of 0.53 and a beta of 1.55. 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 has a 1-year low of $16.92 and a 1-year high of $33.94. The business’s 50 day moving average is $19.91 and its 200-day moving average is $23.33.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. Sell-side analysts predict that Foot Locker will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Foot Locker

Several institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its stake in Foot Locker by 173.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 112,028 shares of the athletic footwear retailer’s stock valued at $2,438,000 after buying an additional 71,083 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Foot Locker by 17.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,466 shares of the athletic footwear retailer’s stock worth $5,733,000 after acquiring an additional 39,232 shares during the period. Voloridge Investment Management LLC lifted its position in Foot Locker by 66.8% in the 4th quarter. Voloridge Investment Management LLC now owns 737,299 shares of the athletic footwear retailer’s stock valued at $16,044,000 after acquiring an additional 295,243 shares in the last quarter. Vision One Management Partners LP acquired a new position in Foot Locker in the 4th quarter worth $1,205,000. Finally, Twinbeech Capital LP bought a new position in Foot Locker during the 4th quarter worth about $5,715,000.

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.