Finish Line Shares Rally Following Q4 Results; Analysts Leaning Toward Bullish Side Of Things

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BB&T Capital upgraded Finish Line Inc
FINL
to Buy from Hold and Monness Crespi Hardt upgraded Finish Line to Buy from Neutral after the company's quarterly earnings and sales topped Street view. Shares of the Indianapolis, Indiana-based footwear retailer surged as much as 14 percent. However, the company's full-year earnings view came in below the Street's forecast. Finish Line sees full-year adjusted EPS of $1.50 to $1.56 and same-store sales growth of 3% to 5%, versus consensus expectations for EPS of $1.64. "While FINL has upside drivers including accelerating comps, easy compares in 2H, closure of small/unprofitable stores, noticeably better product allocations (from our store visits), & a cheap stock price (trading at ~11x its 12m fwd-EPS vs 13x 3-yr avg) we remain cautious until visibility improves that the core business can consistently comp profitably as supply chain issues subside," UBS analyst Michael Binetti wrote in a note to clients. The analyst lowered FY17 EPS estimates to $1.55 from $1.71 based on reduced near-term visibility. The analyst's first quarter EPS estimate also came down to $0.21 from $0.30. However, Binetti raised his price target on FINL shares to $19 from $18, while maintaining a Neutral rating on the stock. Meanwhile, Citigroup maintained Finish Line with a Buy rating and raised the price target to $23.00 from $20.00. Shares of Finish Line were up 13 percent at $21.64. They have gained 19 percent this year.
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