Jefferies Lowers Price Target on Finish Line (FINL), Sees Q2 Beat and Marjor Buybacks
Tweet
Share
E-mailGet Alerts FINL Hot Sheet
Price: $13.51 --0%
Rating Summary:
3 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Jefferies is reiterating its Buy rating on shares of Finish Line (NASDAQ: FINL), but is reducing its price target from $28 to $25.
The firm believes that the company will beat second quarter expectations due to a strong performance from its athletic running segment. The new athletic running trend began in late 2009 and has been strong. FINL has a strong line up of apparel and shoes that targets the athletic industry well.
A combination of the company's growing e-commerce, it wide range of matching shoes with apparel and accessories, and transitioning into a commission sales force are all positive catalysts that Jefferies is currently considering.
Jefferies notes that the macro risks, NBA lockout, and tougher comparisons are already reflected in the stocks valuation. As a result of the stocks weak performance over the quarter, the firm is predicting large buybacks with its roughly $300 million in cash.
For the second quarter, the firm estimates EPS of $0.40, $0.02 ahead of the Street. For 2012, Jefferies forecasts EPS of $1.60, $0.04 above the Street.
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 $20.75 yesterday.
The firm believes that the company will beat second quarter expectations due to a strong performance from its athletic running segment. The new athletic running trend began in late 2009 and has been strong. FINL has a strong line up of apparel and shoes that targets the athletic industry well.
A combination of the company's growing e-commerce, it wide range of matching shoes with apparel and accessories, and transitioning into a commission sales force are all positive catalysts that Jefferies is currently considering.
Jefferies notes that the macro risks, NBA lockout, and tougher comparisons are already reflected in the stocks valuation. As a result of the stocks weak performance over the quarter, the firm is predicting large buybacks with its roughly $300 million in cash.
For the second quarter, the firm estimates EPS of $0.40, $0.02 ahead of the Street. For 2012, Jefferies forecasts EPS of $1.60, $0.04 above the Street.
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 $20.75 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cummins (CMI) PT Lowered to $675 at Jefferies
- Mavis acquires Pep Boys from Icahn Enterprises for $700M
- Array shifts to integrated solar platform with record orderbook
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
