Foot Locker's (FL) Buy Rating Reiterated at Needham & Company LLC

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

A number of other research analysts have also recently weighed in on 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 for the company in a research note on Thursday, December 5th. Guggenheim reduced their target price on shares of Foot Locker from $34.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, December 5th. Telsey Advisory Group restated a "market perform" rating and set a $24.00 target price on shares of Foot Locker in a report on Wednesday. Jefferies Financial Group dropped their price target on shares of Foot Locker from $27.00 to $22.00 and set a "hold" rating on the stock in a research note on Wednesday, December 4th. Finally, Piper Sandler dropped their price target on shares of Foot Locker from $30.00 to $28.00 and set a "neutral" rating on the stock in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Foot Locker currently has an average rating of "Hold" and a consensus price target of $23.13.

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Foot Locker Price Performance

Foot Locker stock traded up $0.86 during mid-day trading on Wednesday, reaching $18.70. The company had a trading volume of 4,346,839 shares, compared to its average volume of 3,456,685. Foot Locker has a 1 year low of $16.92 and a 1 year high of $33.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The company has a market capitalization of $1.77 billion, a P/E ratio of -4.15, a P/E/G ratio of 0.53 and a beta of 1.55. The stock's 50-day simple moving average is $19.72 and its 200-day simple moving average is $23.07.

Foot Locker (NYSE:FL - Get Free Report) last issued its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.13. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same period last year, the company posted $0.38 earnings per share. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities analysts predict that Foot Locker will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FL. Moody National Bank Trust Division acquired a new position in Foot Locker during the 4th quarter valued at about $610,000. Geode Capital Management LLC boosted its stake in Foot Locker by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer's stock valued at $49,319,000 after purchasing an additional 25,394 shares during the period. Intech Investment Management LLC acquired a new position in Foot Locker during the 3rd quarter valued at about $829,000. Allspring Global Investments Holdings LLC boosted its stake in Foot Locker by 88.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer's stock valued at $115,365,000 after purchasing an additional 2,500,396 shares during the period. Finally, Versor Investments LP acquired a new position in Foot Locker during the 3rd quarter valued at about $793,000.

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.