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

Needham & Company LLC reaffirmed their buy rating on shares of Foot Locker (NYSE:FL - Free Report) in a report issued on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $25.00 price objective on the athletic footwear retailer's stock.

Other equities analysts have also issued reports about the company. UBS Group lowered their target price on Foot Locker from $26.00 to $22.00 and set a "neutral" rating for the company in a report on Thursday, December 5th. Williams Trading upgraded Foot Locker from a "sell" rating to a "hold" rating and upped their price objective for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Gordon Haskett started coverage on Foot Locker in a research note on Monday, October 7th. They issued an "accumulate" rating and a $27.00 target price on the stock. The Goldman Sachs Group lowered their price target on shares of Foot Locker from $25.00 to $22.00 and set a "sell" rating for the company in a research report on Thursday, December 5th. Finally, Jefferies Financial Group dropped their price objective on shares of Foot Locker from $27.00 to $22.00 and set a "hold" rating on the stock in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Foot Locker presently has an average rating of "Hold" and an average target price of $25.18.

Foot Locker Stock Performance

NYSE:FL traded down $0.19 during trading hours on Wednesday, reaching $22.07. 3,592,895 shares of the stock were exchanged, compared to its average volume of 3,371,910. The stock has a market capitalization of $2.09 billion, a P/E ratio of -4.89, a P/E/G ratio of 0.86 and a beta of 1.46. The firm has a 50 day simple moving average of $23.54 and a 200-day simple moving average of $25.74. 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 has a 52 week low of $19.33 and a 52 week high of $35.60.

Foot Locker (NYSE:FL - Get Free Report) last posted its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company posted $0.30 earnings per share. The business's revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts forecast that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Foot Locker by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer's stock worth $117,123,000 after buying an additional 71,152 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Foot Locker by 23.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer's stock worth $72,279,000 after acquiring an additional 557,489 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Foot Locker by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer's stock worth $49,319,000 after purchasing an additional 25,394 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Foot Locker by 10.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer's stock valued at $29,341,000 after purchasing an additional 106,402 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Foot Locker by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer's stock valued at $28,775,000 after purchasing an additional 38,318 shares during the period.

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.