The Finish Line Inc. (NASDAQ:FINL) was downgraded by research analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday. They presently have a $23.00 price target on the stock, down from their previous price target of $25.00. Buckingham Research’s target price would suggest a potential upside of 1.10% from the company’s current price.
Several other equities research analysts also recently issued reports on the stock. B. Riley reaffirmed a “buy” rating and set a $26.00 price target on shares of The Finish Line in a research note on Monday. Piper Jaffray Cos. set a $18.00 price target on shares of The Finish Line and gave the stock a “hold” rating in a research note on Wednesday, September 21st. Canaccord Genuity reaffirmed a “buy” rating and set a $25.00 price target on shares of The Finish Line in a research note on Wednesday, September 21st. Credit Suisse Group AG reaffirmed a “hold” rating and set a $21.00 price target on shares of The Finish Line in a research note on Tuesday, September 20th. Finally, Brean Capital reaffirmed a “buy” rating and set a $24.00 price target on shares of The Finish Line in a research note on Tuesday, September 13th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $22.75.
Shares of The Finish Line (NASDAQ:FINL) opened at 22.75 on Monday. The firm has a market cap of $922.79 million, a P/E ratio of 71.99 and a beta of 0.90. The stock’s 50 day moving average is $23.37 and its 200 day moving average is $20.62. The Finish Line has a 52 week low of $15.37 and a 52 week high of $24.52.
The Finish Line (NASDAQ:FINL) last released its quarterly earnings results on Friday, September 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. The Finish Line had a net margin of 0.72% and a return on equity of 8.83%. The firm had revenue of $509.40 million for the quarter. During the same period last year, the firm earned $0.57 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts predict that The Finish Line will post $1.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 26th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.76%. The Finish Line’s payout ratio is currently 108.11%.
In related news, Director Norman H. Gurwitz sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $22.10, for a total value of $55,250.00. Following the sale, the director now directly owns 4,912 shares in the company, valued at approximately $108,555.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen Goldsmith sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $21.73, for a total transaction of $86,920.00. Following the completion of the sale, the director now owns 36,651 shares in the company, valued at $796,426.23. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its stake in The Finish Line by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,256 shares of the company’s stock worth $126,000 after buying an additional 760 shares during the last quarter. Meeder Asset Management Inc. increased its stake in The Finish Line by 95.6% in the second quarter. Meeder Asset Management Inc. now owns 7,015 shares of the company’s stock worth $142,000 after buying an additional 3,429 shares during the last quarter. Invictus RG acquired a new stake in The Finish Line during the first quarter worth approximately $163,000. Mason Street Advisors LLC acquired a new stake in The Finish Line during the second quarter worth approximately $167,000. Finally, Societe Generale acquired a new stake in The Finish Line during the second quarter worth approximately $184,000.
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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