Nike (NKE) – Research Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Nike (NYSE: NKE) recently:

  • 8/4/2017 – Nike was given a new $54.00 price target on by analysts at Cowen and Company. They now have a “hold” rating on the stock.
  • 7/27/2017 – Nike was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “NIKE’s shares have outperformed the Consumer Discretionary sector in the last six months driven by a splendid surprise history, alongside focus on its “triple-double” and Consumer Direct Offense strategies. The company delivered 20th straight earnings beat in fourth-quarter fiscal 2017. While the company also managed to report solid sales, we note that sales at its key North American market continues to suffer due to lackluster product assortments, increased promotions and intensified competition. Additionally, the growth of eCommerce has weighed on its wholesale business in the region. We expect the promotional environment to continue hurting the segment’s sales. Further, the company provided a soft outlook for fiscal 2018 taking into account the operating environment, strategic changes and the foreign currency headwinds. First quarter estimates witnessed a downtrend in the last 30 days.”
  • 7/27/2017 – Nike had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies.
  • 7/24/2017 – Nike had its “buy” rating reaffirmed by analysts at Guggenheim. They now have a $70.00 price target on the stock.
  • 7/22/2017 – Nike was given a new $66.00 price target on by analysts at Stifel Nicolaus. They now have a “buy” rating on the stock.
  • 7/22/2017 – Nike was given a new $53.00 price target on by analysts at Piper Jaffray Companies. They now have a “hold” rating on the stock.
  • 7/20/2017 – Nike was given a new $68.00 price target on by analysts at Morgan Stanley. They now have a “buy” rating on the stock.
  • 7/19/2017 – Nike was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $68.00 price target on the stock, up previously from $56.00.
  • 7/18/2017 – Nike is now covered by analysts at Needham & Company LLC. They set a “hold” rating on the stock.
  • 7/17/2017 – Nike was given a new $62.00 price target on by analysts at Nomura. They now have a “buy” rating on the stock.
  • 7/11/2017 – Nike was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “NIKE’s shares have outperformed the Consumer Discretionary sector in the last six months driven by a splendid surprise history, alongside focus on its “triple-double” and Consumer Direct Offense strategies. The company delivered 20th straight earnings beat in fourth-quarter fiscal 2017. While the company also managed to report solid sales, we note that sales at its key North American market continues to suffer due to lackluster product assortments, increased promotions and intensified competition. Additionally, the growth of eCommerce has weighed on its wholesale business in the region. We expect the promotional environment to continue hurting the segment’s sales. Further, the company provided a soft outlook for fiscal 2018 taking into account the operating environment, strategic changes and the foreign currency headwinds, which led to a downtrend in estimates.”
  • 7/6/2017 – Nike is now covered by analysts at Raymond James Financial, Inc.. They set an “outperform” rating and a $71.00 price target on the stock.
  • 7/4/2017 – Nike was given a new $75.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 7/4/2017 – Nike was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $57.35 price target on the stock.
  • 7/3/2017 – Nike was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $56.43 price target on the stock.
  • 7/3/2017 – Nike was given a new $64.00 price target on by analysts at UBS AG. They now have a “buy” rating on the stock.
  • 7/3/2017 – Nike had its price target lowered by analysts at DA Davidson from $70.00 to $69.00. They now have a “buy” rating on the stock.
  • 7/1/2017 – Nike was given a new $69.00 price target on by analysts at Deutsche Bank AG. They now have a “buy” rating on the stock.
  • 7/1/2017 – Nike was given a new $56.00 price target on by analysts at Wells Fargo & Company. They now have a “hold” rating on the stock.
  • 7/1/2017 – Nike was given a new $50.00 price target on by analysts at Piper Jaffray Companies. They now have a “hold” rating on the stock.
  • 7/1/2017 – Nike was given a new $53.00 price target on by analysts at FBR & Co. They now have a “hold” rating on the stock.
  • 7/1/2017 – Nike was given a new $51.00 price target on by analysts at Canaccord Genuity. They now have a “hold” rating on the stock.
  • 7/1/2017 – Nike was given a new $63.00 price target on by analysts at Credit Suisse Group. They now have a “buy” rating on the stock.
  • 6/30/2017 – Nike had its price target raised by analysts at Telsey Advisory Group from $62.00 to $63.00. They now have an “outperform” rating on the stock.
  • 6/30/2017 – Nike had its “buy” rating reaffirmed by analysts at Nomura. They now have a $60.00 price target on the stock.
  • 6/30/2017 – Nike had its “buy” rating reaffirmed by analysts at Berenberg Bank. They now have a $70.00 price target on the stock.
  • 6/30/2017 – Nike had its “buy” rating reaffirmed by analysts at Goldman Sachs Group, Inc. (The). They now have a $63.00 price target on the stock, up previously from $62.00.
  • 6/30/2017 – Nike had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $62.00 price target on the stock.
  • 6/30/2017 – Nike had its price target raised by analysts at Cowen and Company from $53.00 to $54.00. They now have a “market perform” rating on the stock.
  • 6/30/2017 – Nike had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $65.00 price target on the stock.
  • 6/30/2017 – Nike had its “neutral” rating reaffirmed by analysts at J P Morgan Chase & Co. They now have a $58.00 price target on the stock.
  • 6/30/2017 – Nike had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $66.00 price target on the stock.
  • 6/30/2017 – Nike had its “underperform” rating reaffirmed by analysts at Bank of America Corporation. They now have a $42.00 price target on the stock.
  • 6/30/2017 – Nike had its “positive” rating reaffirmed by analysts at Susquehanna Bancshares Inc. They now have a $64.00 price target on the stock, up previously from $61.00.
  • 6/28/2017 – Nike had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $75.00 price target on the stock.
  • 6/28/2017 – Nike had its price target raised by analysts at Deutsche Bank AG from $63.00 to $67.00. They now have an “outperform” rating on the stock.
  • 6/27/2017 – Nike had its “buy” rating reaffirmed by analysts at UBS AG. They now have a $62.00 price target on the stock, down previously from $63.00. They wrote, “The Swoosh garden atop the Nike headquarters in NYC.”
  • 6/26/2017 – Nike was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $55.11 price target on the stock.
  • 6/24/2017 – Nike was given a new $63.00 price target on by analysts at Credit Suisse Group. They now have a “buy” rating on the stock.
  • 6/22/2017 – Nike had its price target lowered by analysts at Telsey Advisory Group from $66.00 to $62.00. They now have an “outperform” rating on the stock.
  • 6/22/2017 – Nike was given a new $51.00 price target on by analysts at Canaccord Genuity. They now have a “hold” rating on the stock.
  • 6/21/2017 – Nike had its “neutral” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $50.00 price target on the stock.
  • 6/21/2017 – Nike had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $56.00 price target on the stock.
  • 6/20/2017 – Nike was given a new $63.00 price target on by analysts at Deutsche Bank AG. They now have a “buy” rating on the stock.
  • 6/20/2017 – Nike had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $53.00 price target on the stock, down previously from $54.00.
  • 6/19/2017 – Nike was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “To counter consumer shift toward online shopping, Nike unveiled a new company alignment – the Consumer Direct Offense. Driven by its Triple Double strategy, this restructuring plan focuses on using digital methods for rapid innovation and product development, along with strengthening consumer relations by operating through core regions. These regions include 12 key cities which are expected to account for over 80% of Nike’s previously forecasted growth, till 2020. The company expects these changes to result in a 2% cut in its global workforce, leading to about 1,400 layoffs. Nike’s shares have lagged the broader sector year to date. Incidentally, the company’s top-line fell prey to stiff competition and a tough retail backdrop in the last reported quarter. These factors, along with lingering currency woes also caused a soft sales view for fourth-quarter fiscal 2017. However, estimates have been stable ahead of earnings.”
  • 6/19/2017 – Nike had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $65.00 price target on the stock.
  • 6/16/2017 – Nike was downgraded by analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating. They now have a $58.00 price target on the stock, down previously from $61.00.
  • 6/16/2017 – Nike was given a new $62.00 price target on by analysts at Goldman Sachs Group, Inc. (The). They now have a “buy” rating on the stock.
  • 6/16/2017 – Nike had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $62.00 price target on the stock.
  • 6/15/2017 – Nike was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $55.06 price target on the stock.
  • 6/14/2017 – Nike had its “buy” rating reaffirmed by analysts at Berenberg Bank. They now have a $70.00 price target on the stock.
  • 6/14/2017 – Nike was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Shares of Nike, Inc. (NKE) traded down 1.39% during trading on Thursday, hitting $59.07. 5,585,065 shares of the stock traded hands. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53. The company has a 50-day moving average of $57.59 and a 200-day moving average of $55.54. The firm has a market cap of $97.06 billion, a P/E ratio of 23.53 and a beta of 0.59.

Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The company had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.63 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. Nike’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts forecast that Nike, Inc. will post $2.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. Nike’s payout ratio is 28.69%.

In related news, CFO Andrew Campion sold 96,243 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the sale, the chief financial officer now owns 50,246 shares in the company, valued at $2,847,943.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Trevor A. Edwards sold 200,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total value of $11,526,000.00. Following the sale, the insider now owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The disclosure for this sale can be found here. Insiders have sold 492,360 shares of company stock worth $28,485,174 over the last ninety days. 3.90% of the stock is owned by insiders.

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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