The Finish Line Inc. (FINL) Rating Lowered to Sell at Zacks Investment Research
The Finish Line Inc. (NASDAQ:FINL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “The Finish Line, Inc. together with its wholly owned subsidiary Spike’s Holding, Inc. is one of the largest mall based specialty retailers of brand name athletic, outdoor and casual footwear, activewear and accessories in the United States. Their store generally carries a large selection of men’s, women’s and children’s athletic and casual shoes, as well as a broad assortment of activewear and accessories. Brand names offered by them include Nike, adidas, Reebok, And 1, K-Swiss, New Balance, Asics, Fila and Skechers. “
A number of other analysts have also recently issued reports on the company. Susquehanna cut The Finish Line from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $23.67 to $23.00 in a report on Monday, November 21st. Wedbush started coverage on The Finish Line in a report on Tuesday, November 1st. They set an “outperform” rating and a $25.00 target price for the company. FBR & Co reiterated an “outperform” rating and set a $25.00 target price on shares of The Finish Line in a report on Wednesday, October 26th. Morgan Stanley reiterated an “equal weight” rating on shares of The Finish Line in a report on Wednesday, October 12th. Finally, Brean Capital reiterated a “buy” rating and set a $24.00 target price on shares of The Finish Line in a report on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.00.
Shares of The Finish Line (NASDAQ:FINL) opened at 23.06 on Monday. The firm has a market cap of $935.36 million, a PE ratio of 72.97 and a beta of 1.24. The firm’s 50-day moving average is $21.46 and its 200-day moving average is $21.18. The Finish Line has a 12-month low of $15.51 and a 12-month high of $24.52.
The Finish Line (NASDAQ:FINL) last posted its quarterly earnings data on Friday, September 23rd. The company reported $0.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.53. The Finish Line had a net margin of 0.72% and a return on equity of 8.83%. The company earned $509.40 million during the quarter. During the same period in the prior year, the company earned $0.57 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that The Finish Line will post $1.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 25th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 1.73%. The Finish Line’s payout ratio is 108.11%.
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In other news, Director Norman H. Gurwitz sold 3,000 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $22.41, for a total value of $67,230.00. Following the completion of the transaction, the director now owns 5,518 shares of the company’s stock, valued at $123,658.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Glenn S. Lyon sold 38,523 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $23.19, for a total value of $893,348.37. Following the completion of the transaction, the insider now directly owns 192,088 shares of the company’s stock, valued at approximately $4,454,520.72. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FINL. Deprince Race & Zollo Inc. acquired a new position in The Finish Line during the second quarter valued at about $40,831,000. Numeric Investors LLC acquired a new position in The Finish Line during the second quarter valued at about $17,972,000. Dimensional Fund Advisors LP boosted its position in shares of The Finish Line by 32.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,569,624 shares of the company’s stock valued at $72,071,000 after buying an additional 880,360 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of The Finish Line during the second quarter valued at $16,645,000. Finally, Teachers Advisors LLC boosted its position in shares of The Finish Line by 681.6% in the third quarter. Teachers Advisors LLC now owns 548,305 shares of the company’s stock valued at $12,655,000 after buying an additional 478,154 shares in the last quarter.
The Finish Line Company Profile
Finish Line, Inc is a specialty retailer. The Company operates two retail divisions: the Finish Line and JackRabbit brands. Finish Line is a retailer of athletic shoes, apparel and accessories. The Company operates approximately 590 Finish Line stores, which average over 5,550 square feet, in approximately 40 United States’ states and Puerto Rico.
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