Foot Locker’s (FL) “Buy” Rating Reiterated at Needham & Company LLC

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

Other equities analysts also recently issued reports about the stock. Robert W. Baird dropped their price objective on shares of Foot Locker from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Morgan Stanley dropped their target price on Foot Locker from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, December 6th. UBS Group reduced their price target on Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. JPMorgan Chase & Co. dropped their price objective on Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, January 24th. Finally, Piper Sandler reduced their target price on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Foot Locker currently has an average rating of “Hold” and a consensus price target of $23.13.

Foot Locker Stock Up 4.8 %

Shares of NYSE:FL opened at $18.70 on Wednesday. The business’s 50 day moving average is $19.81 and its 200 day moving average is $23.30. The stock has a market cap of $1.77 billion, a P/E ratio of -4.15, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. Foot Locker has a 52-week low of $16.92 and a 52-week high of $33.94. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15.

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 analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 EPS. Sell-side analysts predict that Foot Locker will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbour Investments Inc. grew its holdings 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 purchased a new stake in Foot Locker during the 4th quarter valued at about $32,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Foot Locker in the third quarter valued at about $58,000. R Squared Ltd purchased a new position in shares of Foot Locker in the fourth quarter worth about $50,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of Foot Locker by 819.2% during the fourth 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 during the period.

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.