DA Davidson Raises Price Target on Finish Line (FINL), Strong Comp Sales and Market Trends
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Price: $13.51 --0%
Rating Summary:
3 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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DA Davidson is maintaining its Buy rating on shares of Finish Line (NASDAQ: FINL) and is raising its price target from $26 to $27.
Due to slightly higher same-store-sales prediction of 7 percent and gross profit margin of 33.4 percent, the firm is raising its Q1 EPS estimate from $0.28 to $0.30. As a result the firm is also increasing its FY12 and FY13 EPS estimates by $0.02 to $1.53 and $1.74.
The firm believes the running shoe category will continue to be a key sales driver for the company, as recent SportScan data from SportsOneSource Media suggests running footwear sales grew mid-teens in the month of May.
Footlocker (NYSE: FL) reported domestic comp results that were up in the teens and footwear comps that increased by double digits in the U.S.
For more ratings news on Finish Line click here and for the rating history of Finish Line click here.
Shares of Finish Line closed at $21.20 yesterday.
Due to slightly higher same-store-sales prediction of 7 percent and gross profit margin of 33.4 percent, the firm is raising its Q1 EPS estimate from $0.28 to $0.30. As a result the firm is also increasing its FY12 and FY13 EPS estimates by $0.02 to $1.53 and $1.74.
The firm believes the running shoe category will continue to be a key sales driver for the company, as recent SportScan data from SportsOneSource Media suggests running footwear sales grew mid-teens in the month of May.
Footlocker (NYSE: FL) reported domestic comp results that were up in the teens and footwear comps that increased by double digits in the U.S.
For more ratings news on Finish Line click here and for the rating history of Finish Line click here.
Shares of Finish Line closed at $21.20 yesterday.
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