Morgan Stanley Trims The Finish Line, Inc. (FINL) Target Price to $10.00
The Finish Line, Inc. (NASDAQ:FINL) had its price objective cut by Morgan Stanley from $13.50 to $10.00 in a research report report published on Wednesday. They currently have an equal weight rating on the specialty retailer’s stock.
FINL has been the subject of several other reports. Monness Crespi & Hardt raised shares of The Finish Line from a neutral rating to a buy rating and raised their target price for the stock from $14.09 to $17.00 in a research report on Monday, May 22nd. They noted that the move was a valuation call. Jefferies Group LLC set a $17.00 target price on shares of The Finish Line and gave the stock a buy rating in a research report on Sunday, August 20th. BidaskClub raised shares of The Finish Line from a strong sell rating to a sell rating in a research report on Friday, August 4th. Canaccord Genuity reaffirmed a hold rating and issued a $14.00 target price on shares of The Finish Line in a research report on Friday, May 26th. Finally, Piper Jaffray Companies reaffirmed a neutral rating on shares of The Finish Line in a research report on Wednesday, June 21st. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $11.85.
Shares of The Finish Line (FINL) traded up 2.84% during trading on Wednesday, hitting $10.49. 2,181,848 shares of the stock traded hands. The Finish Line has a 12 month low of $6.90 and a 12 month high of $24.50. The firm’s market cap is $421.13 million. The company has a 50 day moving average price of $11.26 and a 200 day moving average price of $13.85.
The Finish Line (NASDAQ:FINL) last posted its earnings results on Friday, June 23rd. The specialty retailer reported $0.23 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The Finish Line had a negative net margin of 1.05% and a positive return on equity of 8.97%. The firm had revenue of $429.80 million during the quarter, compared to analysts’ expectations of $433.97 million. During the same period last year, the company posted $0.23 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Analysts anticipate that The Finish Line will post $0.57 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 25th were issued a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.44 annualized dividend and a yield of 4.19%. The Finish Line’s dividend payout ratio (DPR) is presently -89.80%.
In other The Finish Line news, COO Melissa A. Greenwell sold 7,525 shares of The Finish Line stock in a transaction dated Saturday, July 15th. The shares were sold at an average price of $22.71, for a total value of $170,892.75. Following the completion of the transaction, the chief operating officer now directly owns 11,862 shares of the company’s stock, valued at $269,386.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Melissa A. Greenwell sold 4,077 shares of The Finish Line stock in a transaction dated Saturday, July 29th. The stock was sold at an average price of $21.67, for a total transaction of $88,348.59. Following the completion of the transaction, the chief operating officer now directly owns 11,862 shares of the company’s stock, valued at $257,049.54. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio raised its holdings in The Finish Line by 15.9% in the second quarter. Public Employees Retirement System of Ohio now owns 10,969 shares of the specialty retailer’s stock worth $155,000 after buying an additional 1,504 shares during the last quarter. Koch Industries Inc. purchased a new position in The Finish Line in the second quarter worth about $242,000. State Street Corp raised its holdings in The Finish Line by 6.5% in the second quarter. State Street Corp now owns 1,470,739 shares of the specialty retailer’s stock worth $20,840,000 after buying an additional 90,370 shares during the last quarter. Gotham Asset Management LLC purchased a new position in The Finish Line in the second quarter worth about $452,000. Finally, QS Investors LLC raised its holdings in The Finish Line by 0.5% in the second quarter. QS Investors LLC now owns 225,029 shares of the specialty retailer’s stock worth $3,189,000 after buying an additional 1,212 shares during the last quarter. 99.94% of the stock is owned by institutional investors and hedge funds.
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.
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