The Finish Line’s (FINL) “Neutral” Rating Reaffirmed at Piper Jaffray Companies
Piper Jaffray Companies reissued their neutral rating on shares of The Finish Line, Inc. (NASDAQ:FINL) in a research report released on Tuesday morning. Piper Jaffray Companies currently has a $8.00 target price on the specialty retailer’s stock, down from their prior target price of $13.00.
Several other research firms have also issued reports on FINL. Robert W. Baird lowered The Finish Line to a neutral rating and decreased their target price for the stock from $15.00 to $8.00 in a research note on Tuesday. They noted that the move was a valuation call. Canaccord Genuity set a $14.00 price objective on The Finish Line and gave the company a hold rating in a report on Thursday, June 22nd. UBS AG reiterated a sell rating and issued a $9.00 price objective (down previously from $14.00) on shares of The Finish Line in a report on Monday, August 21st. BidaskClub downgraded The Finish Line from a hold rating to a sell rating in a report on Thursday, August 17th. Finally, FBR & Co reiterated a buy rating and issued a $22.00 price objective on shares of The Finish Line in a report on Tuesday, June 27th. Seven analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $12.55.
The Finish Line (NASDAQ:FINL) opened at 8.50 on Tuesday. The company’s market capitalization is $341.24 million. The company’s 50 day moving average is $13.13 and its 200-day moving average is $14.66. The Finish Line has a 52-week low of $6.90 and a 52-week 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. Equities analysts anticipate that The Finish Line will post $0.71 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date is Wednesday, August 23rd. The Finish Line’s dividend payout ratio is presently -89.80%.
In related news, COO Melissa A. Greenwell sold 7,525 shares of the business’s stock in a transaction dated 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 $269,386.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Melissa A. Greenwell sold 4,077 shares of the business’s stock in a transaction dated Saturday, July 29th. The stock was sold at an average price of $21.67, for a total value of $88,348.59. Following the completion of the transaction, the chief operating officer now owns 11,862 shares in the company, valued at approximately $257,049.54. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FINL. SG Americas Securities LLC purchased a new stake in shares of The Finish Line during the second quarter valued at about $102,000. State of Alaska Department of Revenue boosted its stake in shares of 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 valued at $112,000 after buying an additional 3,464 shares during the last quarter. Mason Street Advisors LLC boosted its stake in shares of 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 valued at $135,000 after buying an additional 620 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of 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 valued at $135,000 after buying an additional 650 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of The Finish Line during the first quarter valued at about $157,000. Institutional investors and hedge funds 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.
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