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

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

FL has been the subject of a number of other reports. Gordon Haskett lowered shares of Foot Locker from a "moderate buy" rating to a "hold" rating in a report on Thursday, May 15th. Morgan Stanley dropped their price objective on shares of Foot Locker from $16.00 to $14.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Jefferies Financial Group dropped their price objective on shares of Foot Locker from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Piper Sandler lowered their target price on shares of Foot Locker from $19.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. raised shares of Foot Locker from an "underweight" rating to a "neutral" rating and raised their target price for the company from $16.00 to $24.00 in a research note on Thursday, May 15th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $21.44.

Foot Locker Trading Down 0.7%

FL stock traded down $0.16 on Thursday, hitting $23.77. 4,231,823 shares of the company were exchanged, compared to its average volume of 3,955,875. Foot Locker has a twelve month low of $11.00 and a twelve month high of $33.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The business's fifty day moving average is $15.30 and its two-hundred day moving average is $18.62. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -5.27, a price-to-earnings-growth ratio of 0.53 and a beta of 1.42.

Foot Locker (NYSE:FL - Get Free Report) last released its quarterly earnings data 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). Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business earned $0.22 earnings per share. The business's quarterly revenue was down 4.6% compared to the same quarter last year. As a group, research analysts forecast that Foot Locker will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harbour Investments Inc. boosted its holdings in shares of Foot Locker by 81.6% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer's stock worth $31,000 after purchasing an additional 648 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Foot Locker in the fourth quarter valued at approximately $32,000. GAMMA Investing LLC lifted its stake in Foot Locker by 250.6% in the first quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock valued at $35,000 after acquiring an additional 1,764 shares during the last quarter. R Squared Ltd acquired a new stake in Foot Locker in the fourth quarter valued at approximately $50,000. Finally, Sterling Capital Management LLC lifted its stake in Foot Locker by 819.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer's stock valued at $57,000 after acquiring an additional 2,343 shares during 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.