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

Foot Locker (NYSE:FL) had its price objective cut by Needham & Company LLC from $25.00 to $24.00 in a report issued on Friday, Marketbeat reports. The brokerage currently has a “buy” rating on the athletic footwear retailer’s stock. Needham & Company LLC’s price target points to a potential upside of 13.54% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Guggenheim reduced their price objective on Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Barclays lowered their price objective on shares of Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. JPMorgan Chase & Co. cut their target price on shares of Foot Locker from $27.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, December 4th. Evercore ISI lowered their price target on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 26th. Finally, Robert W. Baird cut their price objective on Foot Locker from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Foot Locker has an average rating of “Hold” and a consensus target price of $24.94.

Foot Locker Price Performance

Shares of NYSE FL opened at $21.14 on Friday. The company’s fifty day moving average is $22.14 and its two-hundred day moving average is $25.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The firm has a market capitalization of $2.01 billion, a P/E ratio of -4.69, a PEG ratio of 0.82 and a beta of 1.49. Foot Locker has a one year low of $19.33 and a one year high of $35.60.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the firm posted $0.30 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts forecast that Foot Locker will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

Several institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in shares of Foot Locker during the 4th quarter valued at $50,000. KBC Group NV grew its position in Foot Locker by 5,148.1% during the fourth quarter. KBC Group NV now owns 121,493 shares of the athletic footwear retailer’s stock valued at $2,644,000 after acquiring an additional 119,178 shares during the period. Moody National Bank Trust Division acquired a new stake in Foot Locker during the fourth quarter worth about $610,000. Fiduciary Alliance LLC purchased a new position in shares of Foot Locker in the 4th quarter worth about $203,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Foot Locker in the 3rd quarter valued at about $58,000.

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.