Foot Locker (NYSE:FL) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Foot Locker (NYSE:FL) in a research report report published on Wednesday,Benzinga reports.

A number of other brokerages have also issued reports on FL. Zacks Research upgraded shares of Foot Locker from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. JPMorgan Chase & Co. upgraded shares of 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 shares of Foot Locker from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Morgan Stanley reduced their target price on shares of Foot Locker from $16.00 to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 6th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 target price on shares of Foot Locker in a research report on Friday, May 30th. Two equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.20.

Foot Locker Stock Performance

NYSE FL opened at $26.48 on Wednesday. The stock has a market cap of $2.53 billion, a P/E ratio of -7.02, a PEG ratio of 2.21 and a beta of 1.75. The company’s 50-day simple moving average is $25.14 and its 200 day simple moving average is $19.99. Foot Locker has a twelve month low of $11.00 and a twelve month high of $31.43. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.17.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.32). The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.87 billion. Foot Locker had a negative net margin of 4.54% and a positive return on equity of 3.65%. Foot Locker’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) earnings per share. As a group, research analysts forecast that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Foot Locker news, CAO Giovanna Cipriano sold 22,383 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $24.90, for a total value of $557,336.70. Following the completion of the sale, the chief accounting officer owned 93,895 shares of the company’s stock, valued at approximately $2,337,985.50. This represents a 19.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Foot Locker

Large investors have recently made changes to their positions in the stock. Maryland State Retirement & Pension System boosted its holdings in Foot Locker by 1.9% during the second quarter. Maryland State Retirement & Pension System now owns 24,433 shares of the athletic footwear retailer’s stock worth $599,000 after purchasing an additional 447 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Foot Locker by 0.8% in the second quarter. Thrivent Financial for Lutherans now owns 61,293 shares of the athletic footwear retailer’s stock valued at $1,502,000 after acquiring an additional 496 shares during the last quarter. Choreo LLC lifted its stake in Foot Locker by 3.4% in the second quarter. Choreo LLC now owns 20,720 shares of the athletic footwear retailer’s stock valued at $508,000 after acquiring an additional 690 shares during the last quarter. Signaturefd LLC lifted its stake in Foot Locker by 27.2% in the first quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer’s stock valued at $65,000 after acquiring an additional 980 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Foot Locker by 4.1% in the second quarter. Nisa Investment Advisors LLC now owns 31,573 shares of the athletic footwear retailer’s stock valued at $774,000 after acquiring an additional 1,255 shares during the last quarter.

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.