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FINL - Retreat Sets up a Buy-on-a-Dip Consideration

Finish Line Inc. (FINL) broke above a triangle consolidation in February/March. The real break came in mid-march when price pushed above 19. Then, after cracking 20, there was a pullback. This pullback bounced off of 18, which confirmed the "price bottom".

FINL Daily Chart 4/11

(click to enlarge)

Now, after cracking 22, price is retreating sharply again. 

If you believe the market has turned around and is bullish in 2016, then, the 18.50-19 area could be a good place to go long. A break below 17.50 should invalidate the bullish outlook. On the reward side, there is upside back to 22, and perhaps the 24-24.50 area.

The 18.50-19 area involves a common resistance during the consolidation stage in the past several months. It is also where the 50- and 100-day simple moving averages are. A rising speedline would challenge price in this area. Finally, the RSI will likely be around 40 if price gets to 18.50. If the market is to remain bullish, the RSI would likely hold above 40. Thus, there is a confluence of reasons price can anchor back up after falling to the 18.50-19 area.

Here blog I thought was informative:

Finish Line Inc (NASDAQ:FINL) Chairman Glenn S. Lyon sold 16,711 shares of Finish Line stock in a transaction on Monday, April 4th. The stock was sold at an average price of $20.83, for a total value of $348,090.13. Following the sale, the chairman now owns 67,770 shares of the company’s stock, valued at $1,411,649.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 14th. Stockholders of record on Friday, February 26th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.98%. This is a boost from Finish Line’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Wednesday, February 24th.

Several large investors recently made changes to their positions in the stock. California State Teachers Retirement System increased its stake in shares of Finish Line by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 85,305 shares of the company’s stock valued at $1,542,000 after buying an additional 1,302 shares in the last quarter. Russell Frank Co raised its stake in Finish Line by 1.0% in the fourth quarter. Russell Frank Co now owns 507,244 shares of the company’s stock worth $9,161,000 after buying an additional 4,833 shares in the last quarter. New England Research & Management raised its stake in Finish Line by 72.6% in the fourth quarter. New England Research & Management now owns 24,675 shares of the company’s stock worth $446,000 after buying an additional 10,375 shares in the last quarter. Nationwide Fund Advisors raised its stake in Finish Line by 131.1% in the fourth quarter. Nationwide Fund Advisors now owns 80,063 shares of the company’s stock worth $1,448,000 after buying an additional 45,426 shares in the last quarter. Finally, Numeric Investors LLC purchased a new stake in Finish Line during the fourth quarter worth approximately $2,459,000.

Shares of Finish Line Inc (NASDAQ:FINL) traded down 1.37% during mid-day trading on Tuesday, reaching $20.19. 776,208 shares of the company were exchanged. Finish Line Inc has a 12 month low of $15.37 and a 12 month high of $29.05. The stock has a market capitalization of $895.57 million and a P/E ratio of 15.90. The stock has a 50 day moving average price of $19.20 and a 200-day moving average price of $18.43.

Finish Line (NASDAQ:FINL) last issued its earnings results on Thursday, March 24th. The company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.03. The business had revenue of $580.30 million for the quarter, compared to the consensus estimate of $568.82 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts predict that Finish Line Inc will post $1.54 earnings per share for the current year.

FINL has been the subject of a number of research analyst reports. B. Riley reiterated a “buy” rating and set a $24.00 price objective (down previously from $26.00) on shares of Finish Line in a report on Wednesday, January 6th. Canaccord Genuity reaffirmed a “buy” rating on shares of Finish Line in a research report on Sunday, January 10th. Cowen and Company lifted their price target on shares of Finish Line from $18.00 to $19.00 in a research note on Monday, March 28th. FBR & Co. reiterated a “buy” rating on shares of Finish Line in a report on Saturday, January 9th. Finally, Zacks Investment Research cut Finish Line from a “hold” rating to a “sell” rating in a research note on Saturday, January 9th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $22.89.

Finish Line, Inc is a specialty retailer. The Company operates two retail divisions, one under the Finish Line brand name and another under the Running Specialty Group (NASDAQ:FINL). Finish Line is a retailer of athletic shoes, apparel, and accessories.

From: thevistavoice.org