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

Foot Locker (NYSE:FL)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They currently have a $25.00 price target on the athletic footwear retailer’s stock. Needham & Company LLC’s target price indicates a potential upside of 12.31% from the stock’s current price.

A number of other analysts have also commented on FL. Gordon Haskett initiated coverage on Foot Locker in a research note on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price target for the company. Williams Trading upgraded shares of Foot Locker from a “sell” rating to a “hold” rating and increased their price target for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Citigroup upped their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird lowered their target price on shares of Foot Locker from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Finally, StockNews.com downgraded Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Foot Locker presently has a consensus rating of “Hold” and an average price target of $25.18.

Foot Locker Stock Down 1.0 %

Shares of NYSE:FL opened at $22.26 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The firm has a fifty day moving average of $23.57 and a 200 day moving average of $25.76. Foot Locker has a 52-week low of $19.33 and a 52-week high of $35.60. The firm has a market capitalization of $2.11 billion, a PE ratio of -4.94, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Foot Locker will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

Institutional investors and hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Foot Locker during the third quarter valued at $58,000. Virtu Financial LLC bought a new stake in Foot Locker in the 3rd quarter valued at $701,000. Neo Ivy Capital Management bought a new stake in Foot Locker in the 3rd quarter worth approximately $2,636,000. Geode Capital Management LLC grew its stake 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 buying an additional 25,394 shares in the last quarter. Finally, MML Investors Services LLC purchased a new position in Foot Locker in the third quarter worth about $283,000.

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.