Foot Locker's (FL) "Hold" Rating Reaffirmed at Needham & Company LLC

Foot Locker (NYSE:FL - Get Free Report)'s stock had its "hold" rating reiterated by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

A number of other equities research analysts have also recently issued reports on the company. Barclays cut Foot Locker from an "overweight" rating to an "equal weight" rating in a research report on Thursday. JPMorgan Chase & Co. raised Foot Locker from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $16.00 to $24.00 in a research report on Thursday, May 15th. Citigroup upped their target price on Foot Locker from $20.00 to $24.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. The Goldman Sachs Group decreased their target price on Foot Locker from $19.00 to $17.00 and set a "sell" rating for the company in a research report on Tuesday, April 22nd. Finally, Evercore ISI reduced their price objective on Foot Locker from $22.00 to $15.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $21.44.

Foot Locker Stock Down 0.1%

Shares of NYSE FL traded down $0.04 during trading hours on Thursday, hitting $23.73. The stock had a trading volume of 2,313,986 shares, compared to its average volume of 3,938,711. The company has a market capitalization of $2.26 billion, a P/E ratio of -5.26, a P/E/G ratio of 0.53 and a beta of 1.42. The firm's 50-day moving average price is $15.30 and its two-hundred day moving average price is $18.54. Foot Locker has a 52 week low of $11.00 and a 52 week high of $33.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67.

Foot Locker (NYSE:FL - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The athletic footwear retailer reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.86 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm's revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 EPS. Analysts anticipate that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Foot Locker by 88.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer's stock worth $115,365,000 after acquiring an additional 2,500,396 shares in the last quarter. Cramer Rosenthal Mcglynn LLC acquired a new position in Foot Locker during the fourth quarter worth $34,835,000. Cooper Creek Partners Management LLC acquired a new position in Foot Locker during the fourth quarter worth $30,416,000. Segall Bryant & Hamill LLC acquired a new position in Foot Locker during the fourth quarter worth $18,640,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in Foot Locker by 67.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer's stock worth $41,483,000 after acquiring an additional 770,932 shares in the last quarter.

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.