Deutsche Bank Reiterates Hold Rating for Finish Line (FINL)
Finish Line (NASDAQ:FINL)‘s stock had its “hold” rating reaffirmed by investment analysts at Deutsche Bank in a note issued to investors on Monday, American Banking News reports. They currently have a $24.00 target price on the stock, up from their previous target price of $23.00. Deutsche Bank’s price target would indicate a potential downside of 1.68% from the company’s current price.
The analysts wrote, “FINL’s sharp move higher Friday was justified, in our view, as SSS trends accelerated from slightly negative to +MSD, the Macy’s partnership continues to drive stronger than expected productivity, and expenses were managed better than expected – a reversal from last year’s stumbling blocks. That said, we will remain on the sideline for now as management stated that the 2Q beat (vs. the Street) was actually just in-line with their view (no quarterly guidance), GPM missed in 2Q and 2H guidance was lowered due to a need to promote and markdown more aggressively in the current environment, and FY earnings were reiterated opposed to a raise (due to additional expenses expected in 4Q vs. consensus) despite the Street already being ahead of the company’s guidance.”
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity raised their price target on shares of Finish Line (NASDAQ:FINL) from $21.00 to $23.00 in a research note to investors on Monday. They now have a “hold” rating on the stock. Separately, analysts at Janney Montgomery Scott reiterated a “buy” rating on shares of Finish Line (NASDAQ:FINL) in a research note to investors on Tuesday, September 24th. They now have a $26.00 price target on the stock. Finally, analysts at Sterne Agee raised their price target on shares of Finish Line (NASDAQ:FINL) from $16.00 to $17.00 in a research note to investors on Tuesday, September 24th. They now have an “underperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. Finish Line has a consensus rating of “Hold” and an average target price of $21.38.
Finish Line (NASDAQ:FINL) traded up 1.43% during mid-day trading on Monday, hitting $24.76. The stock had a trading volume of 813,643 shares. Finish Line has a one year low of $16.87 and a one year high of $24.70. The stock’s 50-day moving average is $21.98 and its 200-day moving average is $20.97. The company has a market cap of $1.207 billion and a price-to-earnings ratio of 18.49.
Finish Line (NASDAQ:FINL) last issued its quarterly earnings data on Friday, September 27th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.09. The company had revenue of $436.00 million for the quarter, compared to the consensus estimate of $426.39 million. During the same quarter last year, the company posted $0.49 earnings per share. Finish Line’s revenue was up 13.2% compared to the same quarter last year. On average, analysts predict that Finish Line will post $1.57 earnings per share for the current fiscal year.
The Finish Line, Inc, together with its subsidiaries, is a mall-based specialty retailers in the United States, and operates two retail divisions under the Finish Line brand name (NASDAQ:FINL) and Running Specialty Group (Running Specialty).
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