The Finish Line’s (FINL) “Buy” Rating Reaffirmed at Canaccord Genuity
The Finish Line Inc. (NASDAQ:FINL)‘s stock had its “buy” rating reaffirmed by analysts at Canaccord Genuity in a report released on Wednesday. They currently have a $25.00 price objective on the stock. Canaccord Genuity’s price target points to a potential upside of 6.07% from the company’s current price.
Several other brokerages have also recently commented on FINL. Buckingham Research reaffirmed a “buy” rating and set a $25.00 price target on shares of The Finish Line in a research report on Tuesday, June 21st. TheStreet raised shares of The Finish Line to a “buy” rating in a research report on Thursday, May 26th. Zacks Investment Research cut shares of The Finish Line from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 24th. Barclays PLC reaffirmed an “equal weight” rating and set a $18.00 price target on shares of The Finish Line in a research report on Saturday, June 18th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $21.00 price target on shares of The Finish Line in a research report on Monday, July 25th. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The Finish Line currently has an average rating of “Buy” and a consensus target price of $22.37.
The Finish Line (NASDAQ:FINL) traded up 0.25% during trading on Wednesday, reaching $23.63. The company’s stock had a trading volume of 171,580 shares. The firm has a 50 day moving average of $23.16 and a 200 day moving average of $20.46. The stock has a market capitalization of $979.37 million, a price-to-earnings ratio of 59.52 and a beta of 0.90. The Finish Line has a 52 week low of $15.37 and a 52 week high of $25.92.
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The Finish Line (NASDAQ:FINL) last posted its quarterly earnings data on Friday, June 24th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company earned $453.50 million during the quarter. The Finish Line had a net margin of 0.93% and a return on equity of 9.21%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 earnings per share. Analysts expect that The Finish Line will post $1.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 26th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Wednesday, August 24th. The Finish Line’s dividend payout ratio is 100.00%.
In other news, 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 transaction of $55,250.00. Following the transaction, the director now owns 4,912 shares in the company, valued at approximately $108,555.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Catherine A. Langham sold 18,000 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $20.30, for a total transaction of $365,400.00. Following the transaction, the director now owns 14,436 shares in the company, valued at approximately $293,050.80. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas increased its position in shares of The Finish Line by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,256 shares of the company’s stock valued at $126,000 after buying an additional 760 shares during the period. Meeder Asset Management Inc. increased its position in shares of The Finish Line by 95.6% in the second quarter. Meeder Asset Management Inc. now owns 7,015 shares of the company’s stock valued at $142,000 after buying an additional 3,429 shares during the period. Invictus RG purchased a new position in shares of The Finish Line during the first quarter valued at approximately $163,000. Mason Street Advisors LLC purchased a new position in shares of The Finish Line during the second quarter valued at approximately $167,000. Finally, Societe Generale purchased a new position in shares of The Finish Line during the second quarter valued at approximately $184,000.
The Finish Line Company Profile
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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