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 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. “
Several other analysts also recently weighed in on the stock. Susquehanna downgraded shares of The Finish Line from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $23.67 to $23.00 in a research report on Monday, November 21st. Wedbush began coverage on shares of The Finish Line in a research report on Tuesday, November 1st. They set an “outperform” rating and a $25.00 target price on the stock. FBR & Co reissued an “outperform” rating and set a $25.00 target price on shares of The Finish Line in a research report on Wednesday, October 26th. Morgan Stanley reissued an “equal weight” rating on shares of The Finish Line in a research report on Wednesday, October 12th. Finally, Brean Capital reaffirmed a “buy” rating and issued a $24.00 price objective 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 issued a hold rating and eleven have given a buy rating to the stock. The stock presently has an average 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 stock’s 50 day moving average is $21.46 and its 200 day moving average is $21.18. The company has a market capitalization of $935.36 million, a P/E ratio of 72.97 and a beta of 1.24. 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 released its 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 had revenue of $509.40 million for the quarter. The Finish Line had a net margin of 0.72% and a return on equity of 8.83%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. On average, equities analysts predict that The Finish Line will post $1.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 25th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Tuesday, November 22nd. The Finish Line’s dividend payout ratio (DPR) is 108.11%.
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In related news, insider Glenn S. Lyon sold 38,523 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $23.19, for a total value of $893,348.37. Following the completion of the sale, the insider now owns 192,088 shares of the company’s stock, valued at $4,454,520.72. The sale 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 company’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $22.41, for a total transaction of $67,230.00. Following the completion of the sale, the director now directly owns 5,518 shares of the company’s stock, valued at approximately $123,658.38. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in FINL. Deprince Race & Zollo Inc. purchased a new stake in shares of The Finish Line during the second quarter worth about $40,831,000. Nisa Investment Advisors LLC raised its stake in shares of The Finish Line by 5.2% in the second quarter. Nisa Investment Advisors LLC now owns 16,099 shares of the company’s stock worth $325,000 after buying an additional 800 shares in the last quarter. SECOR Capital Advisors LP purchased a new stake in shares of The Finish Line during the second quarter worth about $579,000. Lucus Advisors LLC purchased a new stake in shares of The Finish Line during the second quarter worth about $345,000. Finally, Tocqueville Asset Management L.P. raised its stake in shares of The Finish Line by 60.7% in the second quarter. Tocqueville Asset Management L.P. now owns 92,700 shares of the company’s stock worth $1,872,000 after buying an additional 35,000 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.
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