The Finish Line Inc. (NASDAQ:FINL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and 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 topic of several other reports. Canaccord Genuity reaffirmed a “buy” rating and set a $25.00 target price on shares of The Finish Line in a report on Wednesday, September 21st. FBR & Co reaffirmed an “outperform” rating and set a $25.00 target price on shares of The Finish Line in a report on Wednesday, October 26th. Deutsche Bank AG reissued a “hold” rating and issued a $24.00 price objective (up from $23.40) on shares of The Finish Line in a report on Monday, September 12th. Buckingham Research lowered The Finish Line from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $23.00 in a report on Monday, September 26th. Finally, Susquehanna assumed coverage on The Finish Line in a report on Tuesday, October 11th. They issued a “neutral” rating and a $23.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $23.00.
Shares of The Finish Line (NASDAQ:FINL) traded down 1.56% during mid-day trading on Monday, hitting $23.28. The stock had a trading volume of 897,755 shares. The stock has a market cap of $944.28 million, a P/E ratio of 73.67 and a beta of 1.24. The Finish Line has a one year low of $15.51 and a one year high of $24.52. The firm has a 50 day moving average of $21.46 and a 200-day moving average of $21.18.
The Finish Line (NASDAQ:FINL) last posted its earnings results on Friday, September 23rd. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $509.40 million for the quarter. The Finish Line had a return on equity of 8.83% and a net margin of 0.72%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. Equities research analysts expect that The Finish Line will post $1.54 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 25th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a yield of 1.69%. The Finish Line’s payout ratio is 108.11%.
In related news, insider Glenn S. Lyon sold 38,523 shares of the business’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $23.19, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Norman H. Gurwitz sold 3,000 shares of the business’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 of the company’s stock, valued at $123,658.38. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position in The Finish Line by 83.3% in the second quarter. BNP Paribas Arbitrage SA now owns 14,631 shares of the company’s stock valued at $295,000 after buying an additional 6,648 shares during the last quarter. Foundry Partners LLC acquired a new position in The Finish Line during the second quarter valued at about $2,795,000. Eqis Capital Management Inc. boosted its position in The Finish Line by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 12,685 shares of the company’s stock valued at $256,000 after buying an additional 126 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in The Finish Line by 5.2% in the second quarter. Nisa Investment Advisors LLC now owns 16,099 shares of the company’s stock valued at $325,000 after buying an additional 800 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new position in The Finish Line during the second quarter valued at about $584,000.
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.