The Finish Line, Inc. (NASDAQ:FINL) was downgraded by Buckingham Research from a “neutral” rating to an “underperform” rating in a report issued on Tuesday. They presently have a $5.00 target price on the specialty retailer’s stock, down from their previous target price of $14.00. Buckingham Research’s target price would suggest a potential downside of 39.32% from the company’s previous close.

The analysts wrote, “less differentiated” than its biggest rival, Foot Locker, Inc. (NYSE: FL).Perhaps more importantly, Finish Line’s outlook for “modest” free cash flow over the coming two years could put its dividend at risk.”In the past, consistent growth in the athletic footwear market had supported FINL, but with the category in a downturn and the future for brick and mortar retailers uncertain at best, it is unclear to us how FINL can reaccelerate growth in the next two to three years,” Krasik wrote.Finally, the analyst’s revised $5 price target is based on a 9x multiple on his fiscal 2019 earnings per share estimate of $0.52. This represents a discount versus the company’s three- and five-year averages of 12x and in line with Foot Locker’s multiple. Also, this multiple is “warranted and not necessarily conservative”

FINL has been the topic of several other research reports. Canaccord Genuity restated a “hold” rating and set a $8.00 price target (down previously from $14.00) on shares of The Finish Line in a report on Tuesday. Jefferies Group LLC set a $13.00 price target on The Finish Line and gave the stock a “buy” rating in a report on Tuesday. Citigroup Inc. downgraded The Finish Line from a “neutral” rating to a “sell” rating and cut their price target for the stock from $14.00 to $5.00 in a report on Tuesday. FBR & Co downgraded The Finish Line from a “buy” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $9.00 in a report on Tuesday. Finally, Zacks Investment Research downgraded The Finish Line from a “hold” rating to a “sell” rating in a report on Monday. Seven investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $12.55.

The Finish Line (NASDAQ:FINL) opened at 8.24 on Tuesday. The firm’s 50-day moving average is $13.13 and its 200-day moving average is $14.66. The stock’s market capitalization is $330.80 million. The Finish Line has a 12 month low of $8.06 and a 12 month high of $24.52.

The Finish Line (NASDAQ:FINL) last posted its earnings results on Friday, June 23rd. The specialty retailer reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The Finish Line had a positive return on equity of 8.97% and a negative net margin of 1.05%. The firm had revenue of $429.80 million for the quarter, compared to analyst estimates of $433.97 million. During the same quarter in the prior year, the company earned $0.23 EPS. The Finish Line’s revenue was up .0% on a year-over-year basis. On average, equities analysts expect that The Finish Line will post $0.71 earnings per share for the current fiscal year.

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In related news, COO Melissa A. Greenwell sold 4,077 shares of the firm’s stock in a transaction that occurred on Saturday, July 29th. The stock was sold at an average price of $21.67, for a total transaction of $88,348.59. Following the transaction, the chief operating officer now owns 11,862 shares in the company, valued at approximately $257,049.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Melissa A. Greenwell sold 7,525 shares of the firm’s stock in a transaction that occurred on Saturday, July 15th. The stock was sold at an average price of $22.71, for a total value of $170,892.75. Following the transaction, the chief operating officer now owns 11,862 shares in the company, valued at approximately $269,386.02. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in The Finish Line during the second quarter worth $102,000. State of Alaska Department of Revenue boosted its stake in The Finish Line by 77.0% in the second quarter. State of Alaska Department of Revenue now owns 7,964 shares of the specialty retailer’s stock worth $112,000 after buying an additional 3,464 shares during the last quarter. Mason Street Advisors LLC boosted its stake in The Finish Line by 7.0% in the first quarter. Mason Street Advisors LLC now owns 9,484 shares of the specialty retailer’s stock worth $135,000 after buying an additional 620 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in The Finish Line by 7.4% in the first quarter. Public Employees Retirement System of Ohio now owns 9,465 shares of the specialty retailer’s stock worth $135,000 after buying an additional 650 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in The Finish Line during the first quarter worth $157,000. Hedge funds and other institutional investors own 99.94% of the company’s stock.

The Finish Line Company Profile

The Finish Line, Inc is a specialty retailer. The Company is a retailer of athletic shoes, apparel and accessories for men, women and kids, throughout the United States and Puerto Rico. The Company operates through the Finish Line brand. Finish Line is a retailer of athletic shoes, apparel and accessories.

Analyst Recommendations for The Finish Line (NASDAQ:FINL)

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