Buckingham Research cut shares of The Finish Line Inc. (NASDAQ:FINL) from a buy rating to a neutral rating in a report published on Monday. They currently have $23.00 price objective on the stock, down from their previous price objective of $25.00.
Several other analysts have also issued reports on FINL. Zacks Investment Research upgraded The Finish Line from a hold rating to a buy rating and set a $27.00 price objective on the stock in a research note on Wednesday, August 31st. Citigroup Inc. restated a buy rating and issued a $24.00 price objective on shares of The Finish Line in a research note on Tuesday, August 23rd. Canaccord Genuity restated a buy rating and issued a $25.00 price objective on shares of The Finish Line in a research note on Wednesday, September 21st. Piper Jaffray Cos. set a $18.00 price objective on The Finish Line and gave the company a hold rating in a research note on Wednesday, September 21st. Finally, B. Riley upped their price objective on The Finish Line from $22.00 to $26.00 and gave the company a buy rating in a research note on Wednesday, September 21st. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The Finish Line presently has an average rating of Hold and a consensus target price of $22.75.
Shares of The Finish Line (NASDAQ:FINL) opened at 23.28 on Monday. The firm has a market cap of $944.28 million, a price-to-earnings ratio of 73.67 and a beta of 0.90. The company has a 50-day moving average price of $23.41 and a 200 day moving average price of $20.64. 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 issued its quarterly earnings results on Friday, September 23rd. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. The Finish Line had a return on equity of 8.83% and a net margin of 0.72%. The firm earned $509.40 million during the quarter. During the same period last year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts expect that The Finish Line will post $1.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 26th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Wednesday, August 24th. The Finish Line’s dividend payout ratio (DPR) is 108.11%.
In related news, Director Catherine A. Langham sold 18,000 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $20.30, for a total transaction of $365,400.00. Following the sale, the director now owns 14,436 shares of the company’s stock, valued at approximately $293,050.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Norman H. Gurwitz sold 2,500 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 4,912 shares in the company, valued at approximately $108,555.20. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in FINL. Invictus RG purchased a new stake in The Finish Line during the first quarter valued at $163,000. Metropolitan Life Insurance Co. NY increased its stake in The Finish Line by 13.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 35,394 shares of the company’s stock valued at $747,000 after buying an additional 4,320 shares during the period. BlackRock Group LTD increased its stake in The Finish Line by 6.2% in the first quarter. BlackRock Group LTD now owns 72,627 shares of the company’s stock valued at $1,532,000 after buying an additional 4,225 shares during the period. SECOR Capital Advisors LP purchased a new stake in The Finish Line during the second quarter valued at $579,000. Finally, Pacad Investment Ltd. purchased a new stake in The Finish Line during the first quarter valued at $803,000.
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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