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The Finish Line's shares crash after UBS slashes expectations

Published 08/21/2017, 03:13 PM
© Reuters. The Finish Line's shares crash after UBS slashes expectations
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investing.com - Shares of The Finish Line Inc (NASDAQ:FINL) were lower on Monday, taking a hit from a significant analyst downgrade which followed Foot Locker’s disappointing earnings and guidance cut last week. This sent shockwaves through the footwear sector sending the stock down of other competitors including Nike (NYSE:NKE), Dick’s Sporting Goods, and Adidas (DE:ADSGN).

On Monday, UBS downgraded The Finish Line to Sell while slashing its price target on the stock to $37 from $70.

The Finish Line’s shares were down almost 10% Monday, adding to their 18% drop in the prior week. The other major footwear companies' shares were also experiencing continued downside.

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