Finish Line Stock Rises on 2Q Earnings Beat

Bank of America Corporation restated a neutral rating and issued a $14.00 price target (down from $16.00) on shares of The Finish Line in a research note on Monday, June 26th.

FINL has been the topic of a number of analyst reports. They noted that the move was a valuation call. Research firm Zacks lifted Finish Line from a "sell" recommendation to a "hold" recommendation in a study on Tue, Jun 13th. The stock experienced a rise in short interest of 15.58% between August 15, 2017 and August 31, 2017. Of those analysts, 2 rate stock as a Strong Buy, 9 rate it as Hold, and just 1 analyst rates it as a Moderate Sell. The company has a consensus rating of "Hold" and a consensus target price of $11.55. (NASDAQ:FINL)'s stock about -32.92% from the 50-day high and 41.01% away from the 50-day low.

The Finish Line, Inc. has a 52 week low of $6.90 and a 52 week high of $24.50.

The stock's market capitalization is $390.62 million.

As of Thursday's market close, Finish Line shares have fallen more than 60 percent over the past 12 months. The 50 day moving average was down $-1.40 and the 200 day average went down by -29.7995%. (NASDAQ:FINL) issued an update on its third quarter earnings guidance on Friday morning.

The specialty retailer reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. The Finish Line had a negative net margin of 1.05% and a positive return on equity of 8.97%. For the current year the company's revenue estimates are $305.98 Million compared to low analyst estimates of $300.8 Million and high estimates of $309.7 Million according to the prediction of 10 analysts. The earnings report comes just weeks after the company lowered its outlook for the fiscal year, in which it expects sales to decrease 3-5 percent. The business's revenue was up.0% on a year-over-year basis. The specialty retailer posted $0.23 EPS for the period, hitting the average forecast of $0.23.

COPYRIGHT VIOLATION WARNING: "The Finish Line, Inc". If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States and global trademark and copyright laws. The original version of this report can be accessed at https://stocknewstimes.com/2017/09/23/the-finish-line-inc-finl-given-hold-rating-at-fbr-co.html. Shareholders of record on Friday, August 25th were paid a $0.11 dividend. SELL rating has been given by 0 analyst (s) and 4 analyst (s) given BUY rating to the stock. The ex-dividend date of this dividend was Wednesday, August 23rd.

Many analysts have provided their estimated foresights on Finish Line Inc. 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 owns 11,862 shares in the company, valued at approximately $257,049.54. The transaction related to this sale was declared in a transaction filed with the SEC which is available at this link. In the past year there have been a total of 28 insider trades, including 13 open market buys and 15 sells. 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 disclosure for this sale can be found here. The Finish Line's revenue for the quarter was down 3.3% compared to the same quarter previous year. Public Employees Retirement System of OH now owns 10,969 shares of the specialty retailer's stock worth $155,000 after purchasing an additional 1,504 shares during the period. State Street Corp grew its position in shares of The Finish Line by 6.5% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 23,854 shares of the specialty retailer's stock worth $338,000 after purchasing an additional 154 shares during the last quarter. Finally, QS Investors LLC grew its stake in The Finish Line by 0.5% in the second quarter.

Vanessa Coleman

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