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

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

A number of other equities research analysts have also recently weighed in on the stock. Citigroup upped their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Piper Sandler reiterated a “neutral” rating and set a $30.00 price objective on shares of Foot Locker in a research note on Friday, August 23rd. StockNews.com cut Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.00 price target on shares of Foot Locker in a research report on Wednesday, August 28th. Finally, Robert W. Baird cut their price objective 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. Three research 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’s stock. According to data from MarketBeat.com, Foot Locker presently has an average rating of “Hold” and an average target price of $27.33.

Foot Locker Price Performance

Shares of Foot Locker stock opened at $23.11 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. Foot Locker has a 12 month low of $20.47 and a 12 month high of $35.60. The business’s 50-day moving average price is $24.55 and its 200-day moving average price is $25.74.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. Analysts expect that Foot Locker will post 1.49 EPS for the current year.

Insider Activity at Foot Locker

In other news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 10,393,592 shares of the company’s stock, valued at approximately $345,275,126.24. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Foot Locker

Several institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Foot Locker during the 2nd quarter worth $31,000. Fifth Third Bancorp grew its position in Foot Locker by 116.0% during 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 period. Northwestern Mutual Wealth Management Co. increased its holdings in Foot Locker by 156.1% in 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 buying an additional 985 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Foot Locker during the 2nd quarter valued at approximately $43,000. Finally, nVerses Capital LLC purchased a new stake in shares of Foot Locker during the 3rd quarter worth approximately $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.