Foot Locker (NYSE:FL) Research Coverage Started at Needham & Company LLC

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

Other equities analysts also recently issued reports about the company. Robert W. Baird lowered their price target on 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 reiterated a “market perform” rating and set a $27.00 price target on shares of Foot Locker in a research note on Wednesday, August 28th. Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. Gordon Haskett assumed coverage on Foot Locker in a research report on Monday, October 7th. They set an “accumulate” rating and a $27.00 target price on the stock. Finally, Citigroup upped their target price on Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.33.

Foot Locker Stock Performance

Shares of FL opened at $23.13 on Friday. Foot Locker has a 1 year low of $20.47 and a 1 year high of $35.60. The stock has a market capitalization of $2.19 billion, a PE ratio of -5.98, a PEG ratio of 0.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66. The stock has a 50-day simple moving average of $24.55 and a 200-day simple moving average of $25.77.

Foot Locker (NYSE:FL) last announced its quarterly earnings data 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. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. On average, analysts predict that Foot Locker will post 1.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings 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 valued at $117,123,000 after purchasing an additional 71,152 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Foot Locker by 23.8% during the second 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 lifted its holdings in shares of Foot Locker by 1.3% in the third 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 in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Foot Locker by 10.3% in 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. increased its stake in shares of Foot Locker by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock worth $28,775,000 after purchasing an additional 38,318 shares in the last quarter.

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.