Needham & Company LLC Lowers Foot Locker (NYSE:FL) Price Target to $24.00

Foot Locker (NYSE:FL - Free Report) had its price target cut by Needham & Company LLC from $25.00 to $24.00 in a research note published on Friday, Marketbeat reports. They currently have a buy rating on the athletic footwear retailer's stock.

Other equities research analysts have also issued reports about the company. Telsey Advisory Group decreased their target price on Foot Locker from $30.00 to $24.00 and set a "market perform" rating for the company in a research report on Thursday, December 5th. Morgan Stanley decreased their target price on Foot Locker from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, December 6th. Jefferies Financial Group decreased their target price on Foot Locker from $27.00 to $22.00 and set a "hold" rating for the company in a research report on Wednesday, December 4th. Piper Sandler decreased their target price on Foot Locker from $30.00 to $28.00 and set a "neutral" rating for the company in a research report on Monday, December 2nd. Finally, Guggenheim decreased their target price on Foot Locker from $34.00 to $28.00 and set a "buy" rating for the company in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $24.94.

Foot Locker Trading Down 1.5 %

FL traded down $0.31 during trading hours on Friday, reaching $20.87. 1,220,211 shares of the company's stock traded hands, compared to its average volume of 2,798,245. The firm has a 50-day moving average price of $22.14 and a 200 day moving average price of $25.04. Foot Locker has a 52-week low of $19.33 and a 52-week high of $35.60. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.98 billion, a PE ratio of -4.62, a PEG ratio of 0.82 and a beta of 1.49.

Foot Locker (NYSE:FL - Get Free Report) last posted its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same quarter in the previous year, the firm earned $0.30 EPS. Foot Locker's revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in Foot Locker during the 4th quarter valued at about $50,000. KBC Group NV grew its stake in Foot Locker by 5,148.1% during the 4th quarter. KBC Group NV now owns 121,493 shares of the athletic footwear retailer's stock valued at $2,644,000 after purchasing an additional 119,178 shares during the last quarter. Moody National Bank Trust Division purchased a new stake in Foot Locker during the 4th quarter valued at about $610,000. Fiduciary Alliance LLC purchased a new stake in Foot Locker during the 4th quarter valued at about $203,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Foot Locker during the 3rd quarter valued at about $58,000.

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.