By midafternoon, shares had added 2.4% to $27.11. Trading volume of 1.8 million was nearly triple its three-month daily average.
The footwear retailer reported adjusted net income of 87 cents a share in the three months to February, a 14.5% year-over-year increase. Analysts surveyed by Thomson Reuters had expected 85 cents a share.
Revenue $518.87 million, though 17.2% higher year over year, fell short of estimates of $529.35 million. Comparable-store sales rose 6.3% compared to the year-ago quarter.
TheStreet Ratings team rates FINISH LINE INC as a Buy with a ratings score of B. The team has this to say about their recommendation:
"We rate FINISH LINE INC (FINL) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
- You can view the full analysis from the report here: FINL Ratings Report