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

Needham & Company LLC initiated coverage on shares of Foot Locker (NYSE:FL) in a research report sent to investors on Friday, Marketbeat reports. The firm issued a buy rating and a $27.00 price target on the athletic footwear retailer’s stock.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Piper Sandler restated a “neutral” rating and issued a $30.00 price objective on shares of Foot Locker in a report on Friday, August 23rd. Robert W. Baird lowered their price objective on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.00 target price on shares of Foot Locker in a research note on Wednesday, August 28th. Finally, Barclays raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. Three investment 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, the company has an average rating of “Hold” and a consensus price target of $27.33.

Foot Locker Stock Performance

Foot Locker stock opened at $24.56 on Friday. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $24.51 and a 200-day moving average of $25.77. The firm has a market cap of $2.33 billion, a P/E ratio of -6.35, a P/E/G ratio of 0.68 and a beta of 1.44. Foot Locker has a 1-year low of $20.47 and a 1-year high of $35.60.

Foot Locker (NYSE:FL) last issued its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.88 billion. Sell-side analysts expect that Foot Locker will post 1.49 EPS for the current year.

Institutional Investors Weigh In On Foot Locker

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP bought a new stake in Foot Locker in the 2nd quarter worth approximately $31,000. Fifth Third Bancorp grew its position in Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after purchasing an additional 733 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock worth $40,000 after purchasing an additional 985 shares during the period. Headlands Technologies LLC bought a new stake in Foot Locker in the 2nd quarter worth approximately $43,000. Finally, nVerses Capital LLC purchased a new position in shares of Foot Locker during the 3rd quarter worth $47,000.

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.