Foot Locker (NYSE:FL) Now Covered by Analysts at Needham & Company LLC

Analysts at Needham & Company LLC started coverage on shares of Foot Locker (NYSE:FL) in a research note issued on Friday, MarketBeat.com reports. The firm set a “buy” rating and a $27.00 price target on the athletic footwear retailer’s stock. Needham & Company LLC’s price objective points to a potential upside of 16.73% from the company’s current price.

Several other brokerages also recently commented on FL. Gordon Haskett started coverage on Foot Locker in a report on Monday, October 7th. They set an “accumulate” rating and a $27.00 target price on the stock. Robert W. Baird dropped their price objective on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Citigroup upped their target price on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Evercore ISI lifted their price target on shares of Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, August 26th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $27.00 price objective on shares of Foot Locker in a research report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.33.

Foot Locker Price Performance

Foot Locker stock opened at $23.13 on Friday. The firm has a fifty day moving average of $24.55 and a 200-day moving average of $25.76. Foot Locker has a 52-week low of $20.47 and a 52-week high of $35.60. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.19 billion, a P/E ratio of -5.98, a PEG ratio of 0.66 and a beta of 1.44.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. As a group, analysts predict that Foot Locker will post 1.49 EPS for the current year.

Insider Activity

In other news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $33.22, for a total transaction of $17,911,559.60. Following the completion of the transaction, the insider now owns 10,393,592 shares in the company, valued at approximately $345,275,126.24. This represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Foot Locker

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of Foot Locker during the 3rd quarter valued at about $701,000. Neo Ivy Capital Management bought a new stake in shares of Foot Locker during the 3rd quarter worth $2,636,000. Geode Capital Management LLC grew its holdings in shares of Foot Locker by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after acquiring an additional 25,394 shares during the last quarter. MML Investors Services LLC acquired a new stake in shares of Foot Locker during the third quarter worth $283,000. Finally, XTX Topco Ltd lifted its holdings in shares of Foot Locker by 23.7% during the third quarter. XTX Topco Ltd now owns 14,624 shares of the athletic footwear retailer’s stock valued at $378,000 after purchasing an additional 2,801 shares during the last quarter.

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.