Morgan Stanley Reaffirms Equal Weight Rating for The Finish Line Inc. (FINL)
The Finish Line Inc. (NASDAQ:FINL)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Morgan Stanley in a research report issued on Wednesday.
Other analysts have also recently issued research reports about the company. B. Riley reissued a “buy” rating and set a $22.00 price objective on shares of The Finish Line in a report on Wednesday, June 22nd. Susquehanna initiated coverage on The Finish Line in a report on Tuesday. They set a “neutral” rating on the stock. Brean Capital reissued a “buy” rating on shares of The Finish Line in a report on Thursday, June 16th. TheStreet cut The Finish Line to a “hold” rating in a report on Wednesday, June 15th. Finally, Jefferies Group reissued a “buy” rating and set a $25.00 price objective (up previously from $24.00) on shares of The Finish Line in a report on Monday, June 27th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $22.75.
The Finish Line (NASDAQ:FINL) traded down 0.14% during midday trading on Wednesday, hitting $22.02. The stock had a trading volume of 67,781 shares. The company has a 50-day moving average price of $23.27 and a 200-day moving average price of $20.86. The stock has a market cap of $893.18 million, a P/E ratio of 69.68 and a beta of 0.99. 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 posted its quarterly earnings results on Friday, September 23rd. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The company earned $509.40 million during 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. Equities analysts expect that The Finish Line will post $1.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 26th were given a $0.10 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.81%. The Finish Line’s dividend payout ratio is currently 108.11%.
In other news, insider Glenn S. Lyon sold 38,523 shares of the firm’s stock in a transaction that occurred 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 approximately $4,454,520.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Norman H. Gurwitz sold 2,500 shares of the firm’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 completion of the transaction, the director now owns 4,912 shares of the company’s stock, valued at approximately $108,555.20. 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. 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 worth $256,000 after buying an additional 126 shares during the last quarter. Foundry Partners LLC purchased a new position in The Finish Line during the second quarter worth approximately $2,795,000. 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 worth $295,000 after buying an additional 6,648 shares during the last quarter. Bayesian Capital Management LP purchased a new position in The Finish Line during the first quarter worth approximately $248,000. Finally, Invictus RG purchased a new position in The Finish Line during the first quarter worth approximately $163,000.
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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