DA Davidson Raises Price Target on Finish Line (FINL), Rising Margins Show Strong Signs
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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 reiterating its Buy rating on shares of Finish Line (NASDAQ: FINL) while increasing its price target from $26 to $28.
The company reported strong quarterly results with earnings, sales, and gross margin all topping the firms expectations. Gross margin rose 2 percent on the year-over-year to 35.1 percent. The firm notes that SG&A expenses also were above their estimates due to increase spending in IT, ecommerce, and marketing.
During the quarter, comps were 11 percent as traffic was down slightly. Digital sales rose 61 percent and accounted for 9 percent of total sales. Footwear comps continue to drive sales as sales were up 11.4 percent year-over-year.
Due to strong trends and rising margins, DA Davidson is increasing its 2012 and 2013 EPS estimates from $1.53 and $1.76 to $1.58 and $1.81. The firm also increased its revenue estimates for the two years slightly to $1.35 billion and $1.35 billion.
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 $18.43 yesterday.
The company reported strong quarterly results with earnings, sales, and gross margin all topping the firms expectations. Gross margin rose 2 percent on the year-over-year to 35.1 percent. The firm notes that SG&A expenses also were above their estimates due to increase spending in IT, ecommerce, and marketing.
During the quarter, comps were 11 percent as traffic was down slightly. Digital sales rose 61 percent and accounted for 9 percent of total sales. Footwear comps continue to drive sales as sales were up 11.4 percent year-over-year.
Due to strong trends and rising margins, DA Davidson is increasing its 2012 and 2013 EPS estimates from $1.53 and $1.76 to $1.58 and $1.81. The firm also increased its revenue estimates for the two years slightly to $1.35 billion and $1.35 billion.
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 $18.43 yesterday.
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