The Finish Line Inc. (NASDAQ:FINL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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. “
FINL has been the subject of several other reports. B. Riley restated a “buy” rating and set a $26.00 target price on shares of The Finish Line in a report on Monday, September 26th. Brean Capital restated a “buy” rating and set a $24.00 target price on shares of The Finish Line in a report on Tuesday, September 13th. Bank of America Corp. restated a “buy” rating and set a $26.00 target price on shares of The Finish Line in a report on Monday, September 26th. Morgan Stanley restated an “equal weight” rating on shares of The Finish Line in a report on Wednesday, October 12th. Finally, Susquehanna upgraded The Finish Line from a “neutral” rating to a “positive” rating and set a $23.00 target price for the company in a report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.00.
Shares of The Finish Line (NASDAQ:FINL) traded down 1.56% during midday trading on Monday, reaching $23.28. The company’s stock had a trading volume of 897,755 shares. The stock has a market cap of $944.28 million, a price-to-earnings ratio of 73.67 and a beta of 1.24. The stock has a 50-day moving average price of $21.46 and a 200-day moving average price of $21.18. The Finish Line has a 52-week low of $15.51 and a 52-week high of $24.52.
The Finish Line (NASDAQ:FINL) last posted its quarterly earnings data on Friday, September 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. The Finish Line had a return on equity of 8.83% and a net margin of 0.72%. The firm earned $509.40 million during the quarter. During the same quarter in the previous year, the company posted $0.57 earnings per share. The Finish Line’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that The Finish Line will post $1.54 earnings per share for the current fiscal year.
The company 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 of this dividend is Tuesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.69%. The Finish Line’s dividend payout ratio (DPR) is currently 108.11%.
In other news, Director Norman H. Gurwitz sold 3,000 shares of the firm’s 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 transaction, the director now directly owns 5,518 shares in the company, valued at approximately $123,658.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Glenn S. Lyon sold 38,523 shares of the firm’s 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 owns 192,088 shares in the company, valued at $4,454,520.72. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. 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 worth $72,071,000 after buying an additional 880,360 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of The Finish Line by 0.7% in the second quarter. Vanguard Group Inc. now owns 3,414,977 shares of the company’s stock worth $68,948,000 after buying an additional 23,710 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of The Finish Line by 6.8% in the third quarter. BlackRock Fund Advisors now owns 2,924,405 shares of the company’s stock worth $67,495,000 after buying an additional 185,777 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of The Finish Line during the second quarter worth approximately $40,831,000. Finally, Boston Partners boosted its position in shares of The Finish Line by 5.8% in the third quarter. Boston Partners now owns 1,766,226 shares of the company’s stock worth $40,764,000 after buying an additional 97,485 shares in the last quarter.
About The Finish Line
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.