The Finish Line, Inc. (FINL) Price Target Cut to $10.00

The Finish Line, Inc. (NASDAQ:FINL) had its target price reduced by stock analysts at Morgan Stanley from $13.50 to $10.00 in a research report issued on Wednesday. The firm presently has an “equal weight” rating on the specialty retailer’s stock. Morgan Stanley’s price objective points to a potential upside of 2.67% from the stock’s previous close.

FINL has been the subject of several other research reports. Deutsche Bank AG cut shares of The Finish Line from a “hold” rating to a “sell” rating and lowered their target price for the company from $15.00 to $5.00 in a report on Tuesday, August 29th. Zacks Investment Research upgraded shares of The Finish Line from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Jefferies Group LLC set a $17.00 target price on shares of The Finish Line and gave the company a “buy” rating in a report on Sunday, August 20th. Barclays PLC restated an “equal weight” rating and issued a $15.00 target price (down previously from $18.00) on shares of The Finish Line in a report on Tuesday, August 29th. Finally, Bank of America Corporation restated a “neutral” rating and issued a $14.00 target price (down previously from $16.00) on shares of The Finish Line in a report on Monday, June 26th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $11.85.

Shares of The Finish Line (NASDAQ FINL) traded up 8.01% during midday trading on Wednesday, reaching $10.52. 2,392,206 shares of the company’s stock traded hands. The Finish Line has a 1-year low of $6.90 and a 1-year high of $24.50. The firm’s 50-day moving average price is $11.54 and its 200 day moving average price is $13.95. The stock’s market capitalization is $422.34 million.

The Finish Line (NASDAQ:FINL) last issued its earnings results on Friday, June 23rd. The specialty retailer reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The Finish Line had a negative net margin of 1.05% and a positive return on equity of 8.97%. The business had revenue of $429.80 million during the quarter, compared to analysts’ expectations of $433.97 million. During the same quarter in the prior year, the business posted $0.23 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts predict that The Finish Line will post $0.53 earnings per share for the current fiscal year.

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In other The Finish Line news, COO Melissa A. Greenwell sold 7,525 shares of the company’s stock in a transaction on Saturday, July 15th. The shares were sold at an average price of $22.71, for a total transaction of $170,892.75. Following the completion of the transaction, the chief operating officer now owns 11,862 shares in the company, valued at approximately $269,386.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Melissa A. Greenwell sold 4,077 shares of the company’s stock in a transaction on Saturday, July 29th. The stock was sold at an average price of $21.67, for a total transaction of $88,348.59. Following the transaction, the chief operating officer now owns 11,862 shares of the company’s stock, valued at approximately $257,049.54. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of The Finish Line in the 2nd quarter valued at about $102,000. State of Alaska Department of Revenue increased its holdings in shares of The Finish Line by 77.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,964 shares of the specialty retailer’s stock valued at $112,000 after purchasing an additional 3,464 shares in the last quarter. Mason Street Advisors LLC increased its holdings in shares of The Finish Line by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 9,484 shares of the specialty retailer’s stock valued at $135,000 after purchasing an additional 620 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of The Finish Line by 7.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 9,465 shares of the specialty retailer’s stock valued at $135,000 after purchasing an additional 650 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of The Finish Line in the 1st quarter valued at about $157,000. Institutional investors and hedge funds own 99.94% of the company’s stock.

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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