FBR & Co Lowers The Finish Line, Inc. (FINL) to Neutral
FBR & Co lowered shares of The Finish Line, Inc. (NASDAQ:FINL) from a buy rating to a neutral rating in a report released on Tuesday morning, Marketbeat reports. FBR & Co currently has $9.00 target price on the specialty retailer’s stock, down from their previous target price of $22.00.
A number of other analysts also recently commented on the company. Zacks Investment Research downgraded The Finish Line from a hold rating to a sell rating in a research note on Monday, August 28th. UBS AG reaffirmed a sell rating and issued a $9.00 price target (down previously from $14.00) on shares of The Finish Line in a report on Monday, August 21st. Monness Crespi & Hardt cut The Finish Line from a buy rating to a neutral rating in a report on Monday, August 21st. Jefferies Group LLC set a $17.00 price target on The Finish Line and gave the stock a buy rating in a report on Sunday, August 20th. Finally, Bank of America Corporation cut The Finish Line from a neutral rating to an underperform rating in a report on Friday, August 18th. Seven analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $11.79.
The Finish Line (NASDAQ:FINL) opened at 8.89 on Tuesday. The company’s market cap is $356.90 million. The stock has a 50 day moving average price of $12.39 and a 200 day moving average price of $14.35. The Finish Line has a 1-year low of $8.34 and a 1-year high of $24.52.
The Finish Line (NASDAQ:FINL) last issued its earnings results on Friday, June 23rd. The specialty retailer reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $433.97 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The company’s revenue was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that The Finish Line will post $0.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 25th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.44 annualized dividend and a yield of 4.95%. The Finish Line’s payout ratio is -89.80%.
In other news, COO Melissa A. Greenwell sold 7,525 shares of the firm’s stock in a transaction on Saturday, July 15th. The stock was sold at an average price of $22.71, for a total transaction of $170,892.75. Following the completion of the transaction, the chief operating officer now directly owns 11,862 shares in the company, valued at $269,386.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Melissa A. Greenwell sold 4,077 shares of the firm’s stock in a transaction on Saturday, July 29th. The stock was sold at an average price of $21.67, for a total value of $88,348.59. Following the transaction, the chief operating officer now owns 11,862 shares of the company’s stock, valued at $257,049.54. The disclosure for this sale can be found here. Corporate 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. Robeco Institutional Asset Management B.V. raised its position in The Finish Line by 1,730.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 602,745 shares of the specialty retailer’s stock valued at $8,541,000 after buying an additional 569,823 shares in the last quarter. Numeric Investors LLC raised its position in The Finish Line by 34.6% in the second quarter. Numeric Investors LLC now owns 1,845,310 shares of the specialty retailer’s stock valued at $26,148,000 after buying an additional 474,200 shares in the last quarter. Bank of America Corp DE raised its position in The Finish Line by 388.8% in the first quarter. Bank of America Corp DE now owns 541,195 shares of the specialty retailer’s stock valued at $7,702,000 after buying an additional 430,476 shares in the last quarter. Koch Industries Inc. purchased a new position in The Finish Line during the second quarter valued at approximately $242,000. Finally, Point72 Asset Management L.P. purchased a new position in The Finish Line during the first quarter valued at approximately $3,640,000. Institutional investors and hedge funds own 99.94% of the company’s stock.
About The Finish Line
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.
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