Foot Locker (NYSE:FL) Now Covered by Needham & Company LLC

Investment analysts at Needham & Company LLC started coverage on shares of Foot Locker (NYSE:FL - Get Free Report) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set a "buy" rating and a $27.00 price target on the athletic footwear retailer's stock. Needham & Company LLC's price target would indicate a potential upside of 18.42% from the company's current price.

Several other brokerages have also recently commented on FL. Piper Sandler reiterated a "neutral" rating and issued a $30.00 price objective on shares of Foot Locker in a research note on Friday, August 23rd. Evercore ISI lifted their target price on shares of Foot Locker from $34.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, August 26th. Robert W. Baird lowered their price target on shares of Foot Locker from $35.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 25th. Barclays upgraded Foot Locker from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Finally, StockNews.com downgraded Foot Locker from a "hold" rating to a "sell" rating in a research report on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $26.56.

Foot Locker Stock Up 1.6 %

FL stock traded up $0.35 during midday trading on Friday, hitting $22.80. The company's stock had a trading volume of 2,585,865 shares, compared to its average volume of 3,220,414. The firm has a 50-day simple moving average of $24.63 and a 200-day simple moving average of $25.74. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.16 billion, a P/E ratio of -5.80, a PEG ratio of 0.66 and a beta of 1.44. Foot Locker has a 52-week low of $20.47 and a 52-week high of $35.60.

Foot Locker (NYSE:FL - Get Free Report) last announced its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. As a group, equities analysts forecast that Foot Locker will post 1.5 EPS for the current year.

Insider Buying and Selling

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $33.22, for a total value of $17,911,559.60. Following the transaction, the insider now directly owns 10,393,592 shares of the company's stock, valued at $345,275,126.24. This represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FL. Quarry LP acquired a new position in Foot Locker during the second quarter worth about $31,000. Fifth Third Bancorp increased its holdings in Foot Locker by 116.0% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer's stock worth $34,000 after buying an additional 733 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Foot Locker by 156.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer's stock valued at $40,000 after acquiring an additional 985 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Foot Locker during the 2nd quarter worth $43,000. Finally, nVerses Capital LLC bought a new position in shares of Foot Locker during the 3rd 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.