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 released on Wednesday,Benzinga reports. They currently have a $25.00 price target on the athletic footwear retailer’s stock.

FL has been the topic of a number of other research reports. Williams Trading raised Foot Locker from a “sell” rating to a “hold” rating and increased their target price for the company from $17.00 to $21.00 in a report on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price objective on shares of Foot Locker from $27.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, December 4th. Jefferies Financial Group cut their target price on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. Morgan Stanley decreased their price target on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, December 6th. Finally, Barclays cut their price objective on shares of Foot Locker from $34.00 to $29.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.18.

Foot Locker Stock Performance

Shares of FL opened at $22.41 on Wednesday. Foot Locker has a 12 month low of $19.33 and a 12 month high of $35.60. The business’s fifty day simple moving average is $23.52 and its two-hundred day simple moving average is $25.71. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -4.97, a P/E/G ratio of 0.86 and a beta of 1.46.

Foot Locker (NYSE:FL) last issued 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). The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.01 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. Research analysts anticipate that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FL. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Foot Locker by 3.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock valued at $355,000 after purchasing an additional 431 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Foot Locker by 1.2% during the second quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock valued at $1,035,000 after purchasing an additional 483 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Foot Locker by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock worth $593,000 after buying an additional 518 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Foot Locker by 2.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock worth $690,000 after buying an additional 667 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of 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 buying an additional 733 shares in the last quarter.

Foot Locker Company Profile

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.