NEW YORK (TheStreet) -- FinishLine (FINL) stock closed up by 12.17% to $21.39 on heavy trading volume on Monday, after Jefferies raised its price target on the stock to $24 from $22. The firm maintained its "buy" rating on the stock.
Last week, the athletic apparel retailer provided weak 2017 guidance. However, the retailer is "setting up to go back on the offensive," Jefferies said.
Finish Line has improved its vendor relationships and is updating its stores, the firm said. The company's closure of about 150 stores during the next four years will also boost Finish Line's productivity, according to Jefferies.
"The fundamental groundwork is being laid for Finish Line to resume a trajectory of consistent earnings growth and stronger profitability after a long period of erratic performance," the firm said.
Additionally, Finish Line was upgraded to "buy" from "neutral" at BB&T on Monday, according to Marketwatch.
As of the market close on Monday, 3.54 million shares of Finish Line have traded, versus the company's 30-day average of about 927,000 shares.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "hold" with a ratings score of C. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.
You can view the full analysis from the report here: FINL