Needham & Company LLC Issues Pessimistic Forecast for Foot Locker (NYSE:FL) Stock Price

Foot Locker (NYSE:FL) had its price target cut by analysts at Needham & Company LLC from $25.00 to $24.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the athletic footwear retailer’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 14.86% from the company’s previous close.

FL has been the subject of several other research reports. UBS Group reduced their price target on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Robert W. Baird reduced their target price on shares of Foot Locker from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. 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. Gordon Haskett assumed coverage on Foot Locker in a research note on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price objective for the company. Finally, Telsey Advisory Group decreased their target price on Foot Locker from $30.00 to $24.00 and set a “market perform” rating on the stock in a report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.94.

Foot Locker Stock Down 1.3 %

Shares of Foot Locker stock opened at $20.90 on Friday. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. Foot Locker has a twelve month low of $19.33 and a twelve month high of $35.60. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -4.63, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49. The company’s 50 day moving average is $22.09 and its 200 day moving average is $25.04.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the company earned $0.30 earnings per share. Foot Locker’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts anticipate that Foot Locker will post 1.23 EPS for the current year.

Institutional Investors Weigh In On Foot Locker

A number of institutional investors have recently added to or reduced their stakes in FL. Quarry LP bought a new position in shares of Foot Locker during the second quarter worth $31,000. Northwestern Mutual Wealth Management Co. lifted its stake 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 in the last quarter. nVerses Capital LLC bought a new position in shares of Foot Locker during the 3rd quarter valued at about $47,000. R Squared Ltd purchased a new position in shares of Foot Locker during the fourth quarter valued at about $50,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Foot Locker in the third quarter worth 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.