UPDATE: Sterne Agee Downgrades Finish Line (FINL) to Neutral
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Rating Summary:
3 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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(Updated - July 11, 2014 7:34 AM EDT)
Sterne Agee downgraded Finish Line (NASDAQ: FINL) from Buy to Neutral with a price target of $33.00 (unchanged). Analyst Sam Poser expressed concerns about running.
"The combination of Sportscaninfo data, information from the recent FFANY shoe show, and conversations with industry contacts makes us confident that a shift from high priced performance running styles to lower priced retro running and court shoes will challenge results for the foreseeable future. Lowering FY15 and FY16 EPS estimates from $1.90 and $2.13 to $1.86 and $2.09," said Poser.
"We're not as confident as the management is: Running sales in 1Q15 were down 1%, but including casual lifestyle running shoes such as the Nike Roshe Run, running sales would have been up MSD. SSS in 2Q15 through most of June was down LSD, and management believes that July and August BTS offerings will turn sales to up in the area of MSD," he added.
For an analyst ratings summary and ratings history on Finish Line click here. For more ratings news on Finish Line click here.
Shares of Finish Line closed at $28.83 yesterday.
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