HALISTER1: Finish Line Post-Earnings Drop Grows to 12%; Analysts Downgrade

Finish Line Post-Earnings Drop Grows to 12%; Analysts Downgrade

(Bloomberg) -- Finish Line drops 4.1%, pushing two-day decline to 12% after earnings missed analysts’ estimates; BofAML, B. Riley, Wedbush, Canaccord cut ratings to hold/neutral.
  • Analyst at BofAML cites “more challenging same-store sales and margin outlook”
    • Sees diminished apparel outlook, footwear sales slowing
    • Says FINL’s traffic is “being impacted by a distribution broadening of athletic brands”
  • Cut to neutral from buy by Jim Chartier at Monness Crespi
  • Lowered to neutral from outperform by Christopher Svezia at Wedbush
  • Downgraded to hold from buy by Camilo Lyon at Canaccord; PT lowered to $22 from $25
  • Cut to neutral from buy by Mitchel Kummetz at B. Riley; PT lowered to $22 from $27
  • FINL 4 buys, 18 holds, 0 sells; avg. PT $21: Bloomberg data
  • NOTE: Dec. 21, FINISH LINE STREET WRAP: ‘Worse Than Expected,’ Wells Fargo Says
  • Note: Dec. 21, Foot Locker Drops After Finish Line’s Disappointing 3Q, Forecast
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
FINL US (Finish Line Inc/The)

People
Camilo Lyon (Canaccord Genuity Group Inc)
Christopher Svezia (Wedbush Securities Inc)
Jim Chartier (Monness Crespi Hardt & Co Inc)
Mitchel Kummetz (B Riley & Co LLC)

To de-activate this alert, click here

UUID: 7947283