Market Overview

Finish Line Can't Keep Pace With Peers


Credit Suisse cut its price target and estimates on Finish Line Inc (NASDAQ: FINL) following weak quarter and disappointing guidance as the company continues to underperform in the athletic category and was unable to lap last year’s execution issues.

Analyst Chrisitan Buss also noted that the results show that the Finish Line's efforts to improve merchandise and product flow have not consistently yielded the desired results.

“[W]e believe that commentary around 4Q expectations related to delayed tax refunds hampering comps and earnings tells only part of the story, as underlying comps are likely to remain weak in spite of a reasonably healthy (although admittedly more promotional) athletic environment,” Buss wrote in a note.

That said, the analyst welcomed the move to sell JackRabbit business as it would improve store productivity and returns.

However, Buss cut his FY 2017 revenue, comps and EPS estimates to $1.882 billion, 0.8 percent and $1.26 from $1.977 billion, 4.8 percent and $1.56.

Though Buss maintained his Neutral rating on the stock, he cut the price target to $19 from $23.

At last check, shares of Finish Line fell 3.2 percent to $19.04.

Latest Ratings for FINL

Jun 2018Bank of AmericaTerminatesNeutralNeutral
Jun 2018Cowen & Co.TerminatesMarket PerformMarket Perform
Mar 2018CitigroupUpgradesSellNeutral

View More Analyst Ratings for FINL
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Posted-In: Christian Buss Credit SuisseAnalyst Color Price Target Reiteration Analyst Ratings

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