Foot Locker (NYSE:FL) Price Target Cut to $24.00 by Analysts at Needham & Company LLC

Foot Locker (NYSE:FL) had its price target lowered by Needham & Company LLC from $25.00 to $24.00 in a research note issued to investors on Friday, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the athletic footwear retailer’s stock.

FL has been the topic of a number of other research reports. Guggenheim cut their price target on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Barclays cut their price target on shares of Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Telsey Advisory Group cut their price target on shares of Foot Locker from $30.00 to $24.00 and set a “market perform” rating on the stock in a report on Thursday, December 5th. The Goldman Sachs Group cut their target price on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a research note on Thursday, December 5th. Finally, Jefferies Financial Group cut their target price on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, December 4th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Foot Locker has a consensus rating of “Hold” and an average price target of $24.94.

Foot Locker Stock Performance

FL stock opened at $20.90 on Friday. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. Foot Locker has a 52 week low of $19.33 and a 52 week high of $35.60. The firm’s fifty day moving average is $22.09 and its 200 day moving average is $25.03.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FL. Quarry LP purchased a new position in shares of Foot Locker during the second quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. grew its position in Foot Locker by 156.1% during 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 during the period. nVerses Capital LLC bought a new stake in Foot Locker during the third quarter valued at approximately $47,000. R Squared Ltd bought a new stake in Foot Locker during the fourth quarter valued at approximately $50,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Foot Locker during the third quarter valued at approximately $58,000.

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.