The Finish Line, Inc. (FINL) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of The Finish Line, Inc. (NASDAQ:FINL) from a sell rating to a hold rating in a report released on Thursday morning.

According to Zacks, “The Finish Line, Inc. together with its wholly owned subsidiary Spike’s Holding, Inc. is one of the largest mall based specialty retailers of brand name athletic, outdoor and casual footwear, activewear and accessories in the United States. Their store generally carries a large selection of men’s, women’s and children’s athletic and casual shoes, as well as a broad assortment of activewear and accessories. Brand names offered by them include Nike, adidas, Reebok, And 1, K-Swiss, New Balance, Asics, Fila and Skechers. “

Several other research analysts also recently issued reports on the stock. Deutsche Bank AG downgraded shares of The Finish Line from a hold rating to a sell rating and dropped their target price for the stock from $15.00 to $5.00 in a research note on Tuesday, August 29th. Susquehanna Bancshares Inc upgraded shares of The Finish Line from a neutral rating to a positive rating and upped their target price for the stock from $9.00 to $12.00 in a research note on Wednesday, September 13th. Citigroup Inc. downgraded shares of The Finish Line from a neutral rating to a sell rating and dropped their target price for the stock from $14.00 to $5.00 in a research note on Tuesday, August 29th. Bank of America Corporation reiterated an underperform rating and issued a $8.00 target price (down previously from $10.00) on shares of The Finish Line in a research note on Tuesday, August 29th. Finally, Barclays PLC reiterated an equal weight rating and issued a $15.00 target price (down previously from $18.00) on shares of The Finish Line in a research note on Tuesday, August 29th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $11.55.

The Finish Line (NASDAQ:FINL) traded up 2.766% during midday trading on Thursday, reaching $9.475. 11,425,294 shares of the company’s stock traded hands. The Finish Line has a 52-week low of $6.90 and a 52-week high of $24.50. The firm’s 50-day moving average is $11.03 and its 200 day moving average is $13.72. The firm’s market cap is $380.38 million.

The Finish Line (NASDAQ:FINL) last issued its earnings results on Friday, September 22nd. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The firm had revenue of $469.40 million for the quarter, compared to the consensus estimate of $478.25 million. The Finish Line had a negative net margin of 1.05% and a positive return on equity of 8.97%. The business’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Equities research analysts expect that The Finish Line will post $0.57 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 25th were paid a $0.11 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.77%. The Finish Line’s dividend payout ratio (DPR) is presently -89.80%.

In other news, COO Melissa A. Greenwell sold 4,077 shares of the stock in a transaction on Saturday, July 29th. The shares were 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 of the company’s stock, valued at $257,049.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Melissa A. Greenwell sold 7,525 shares of the stock in a transaction on Saturday, July 15th. The stock was sold at an average price of $22.71, for a total transaction of $170,892.75. Following the completion of the sale, the chief operating officer now directly owns 11,862 shares of the company’s stock, valued at $269,386.02. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in shares of The Finish Line by 15.9% in the second quarter. Public Employees Retirement System of Ohio now owns 10,969 shares of the specialty retailer’s stock worth $155,000 after purchasing an additional 1,504 shares in the last quarter. Koch Industries Inc. purchased a new stake in shares of The Finish Line in the second quarter worth $242,000. State Street Corp increased its stake in shares of The Finish Line by 6.5% in the second quarter. State Street Corp now owns 1,470,739 shares of the specialty retailer’s stock worth $20,840,000 after purchasing an additional 90,370 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in shares of The Finish Line in the second quarter worth $452,000. Finally, QS Investors LLC increased its stake in shares of The Finish Line by 0.5% in the second quarter. QS Investors LLC now owns 225,029 shares of the specialty retailer’s stock worth $3,189,000 after purchasing an additional 1,212 shares in the last quarter. 99.94% of the stock is owned by hedge funds and other institutional investors.

About The Finish Line

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.

Analyst Recommendations for The Finish Line (NASDAQ:FINL)

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