Wells Fargo & Company Lowers The Finish Line, Inc. (FINL) Price Target to $9.00
The Finish Line, Inc. (NASDAQ:FINL) had its price objective reduced by research analysts at Wells Fargo & Company from $12.00 to $9.00 in a note issued to investors on Sunday, MarketBeat Ratings reports. The brokerage presently has a “market perform” rating on the specialty retailer’s stock. Wells Fargo & Company’s target price suggests a potential downside of 21.60% from the stock’s current price.
Several other analysts have also weighed in on the stock. Piper Jaffray Companies set a $13.00 target price on shares of The Finish Line and gave the company a “hold” rating in a research note on Saturday, June 24th. Jefferies Group LLC restated a “buy” rating and issued a $19.00 price target on shares of The Finish Line in a research report on Friday, June 9th. BidaskClub lowered shares of The Finish Line from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Wedbush reaffirmed a “neutral” rating and issued a $15.00 price target on shares of The Finish Line in a report on Friday, June 16th. Finally, Bank of America Corporation downgraded shares of The Finish Line from a “neutral” rating to an “underperform” rating in a research report on Friday, August 18th. Six research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $11.48.
Shares of The Finish Line (FINL) traded down 0.86% on Friday, reaching $11.48. The company’s stock had a trading volume of 2,128,321 shares. The stock has a 50 day moving average of $10.29 and a 200-day moving average of $13.35. The Finish Line has a 12 month low of $6.90 and a 12 month high of $24.50. The firm’s market cap is $461.42 million.
The Finish Line (NASDAQ:FINL) last issued its quarterly earnings results on Friday, September 22nd. The specialty retailer reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $469.40 million during the quarter, compared to the consensus estimate of $478.25 million. The Finish Line had a positive return on equity of 5.44% and a negative net margin of 2.13%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. On average, analysts anticipate that The Finish Line will post $0.54 EPS for the current year.
In other news, COO Melissa A. Greenwell sold 7,525 shares of the business’s stock in a transaction on Saturday, July 15th. The stock was sold at an average price of $22.71, for a total value of $170,892.75. Following the sale, the chief operating officer now owns 11,862 shares of the company’s stock, valued at approximately $269,386.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Melissa A. Greenwell sold 4,077 shares of the business’s stock in a transaction on 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 sale, the chief operating officer now directly owns 11,862 shares in the company, valued at approximately $257,049.54. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in FINL. Robeco Institutional Asset Management B.V. grew its holdings in The Finish Line by 1,730.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 602,745 shares of the specialty retailer’s stock worth $8,541,000 after acquiring an additional 569,823 shares during the period. Numeric Investors LLC raised its position in The Finish Line by 34.6% in the second quarter. Numeric Investors LLC now owns 1,845,310 shares of the specialty retailer’s stock worth $26,148,000 after acquiring an additional 474,200 shares in the last quarter. Bank of America Corp DE raised its position in The Finish Line by 388.8% in the first quarter. Bank of America Corp DE now owns 541,195 shares of the specialty retailer’s stock worth $7,702,000 after acquiring an additional 430,476 shares in the last quarter. Koch Industries Inc. bought a new stake in The Finish Line in the second quarter worth about $242,000. Finally, Point72 Asset Management L.P. bought a new stake in The Finish Line in the first quarter worth about $3,640,000. 99.94% of the stock is owned by institutional investors and hedge funds.
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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