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

Foot Locker (NYSE:FL)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $27.00 price target on the athletic footwear retailer’s stock. Needham & Company LLC’s price target suggests a potential upside of 11.71% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Evercore ISI reduced their target price on Foot Locker from $38.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 26th. Barclays upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $27.00 to $34.00 in a report on Thursday, August 29th. Williams Trading upgraded shares of Foot Locker from a “sell” rating to a “hold” rating and lifted their price objective for the company from $17.00 to $21.00 in a research note on Wednesday, November 27th. Piper Sandler decreased their target price on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Robert W. Baird lowered their price target on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.87.

Foot Locker Stock Performance

Shares of FL stock opened at $24.17 on Wednesday. The stock has a fifty day moving average price of $24.22 and a 200 day moving average price of $25.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66. The stock has a market cap of $2.29 billion, a PE ratio of -6.25, a P/E/G ratio of 0.74 and a beta of 1.46. Foot Locker has a 1 year low of $20.47 and a 1 year high of $35.60.

Hedge Funds Weigh In On Foot Locker

A number of hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Foot Locker in the second quarter valued at approximately $31,000. Fifth Third Bancorp boosted its position in Foot Locker by 116.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after purchasing an additional 733 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Foot Locker by 156.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock worth $40,000 after buying an additional 985 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Foot Locker in the second quarter worth $43,000. Finally, nVerses Capital LLC bought a new stake in Foot Locker in the third quarter valued at $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.