Nike, Inc. (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by Deutsche Bank AG in a report released on Wednesday. They currently have a $61.00 price objective on the footwear maker’s stock, down from their previous price objective of $69.00. Deutsche Bank AG’s target price would indicate a potential upside of 14.23% from the stock’s previous close.
NKE has been the topic of a number of other research reports. Morgan Stanley reiterated a “buy” rating and set a $64.00 target price (down previously from $68.00) on shares of Nike in a research report on Tuesday, August 29th. Telsey Advisory Group decreased their target price on Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 target price on the stock in a research report on Wednesday, September 6th. Cowen and Company set a $54.00 target price on Nike and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, Canaccord Genuity set a $51.00 target price on Nike and gave the company a “hold” rating in a research report on Friday, May 26th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have assigned a buy rating to the company. Nike currently has an average rating of “Buy” and an average target price of $60.44.
Nike (NYSE:NKE) opened at 53.49 on Wednesday. The stock has a 50 day moving average of $56.46 and a 200 day moving average of $55.56. Nike has a 12-month low of $49.01 and a 12-month high of $60.53. The stock has a market cap of $87.89 billion, a P/E ratio of 21.31 and a beta of 0.61.
Nike (NYSE:NKE) last announced its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.63 billion. During the same quarter last year, the firm posted $0.49 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Nike will post $2.41 earnings per share for the current fiscal year.
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In related news, insider Eric D. Sprunk sold 112,323 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the completion of the sale, the insider now owns 139,551 shares in the company, valued at $8,179,084.11. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Hilary K. Krane sold 28,072 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $58.10, for a total value of $1,630,983.20. Following the sale, the chief accounting officer now owns 177,723 shares of the company’s stock, valued at approximately $10,325,706.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 492,360 shares of company stock valued at $28,485,174. 3.90% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of NKE. Waldron LP lifted its stake in Nike by 90.8% during the first quarter. Waldron LP now owns 8,922 shares of the footwear maker’s stock worth $496,000 after purchasing an additional 4,246 shares during the last quarter. First Manhattan Co. lifted its stake in Nike by 8.2% during the first quarter. First Manhattan Co. now owns 190,424 shares of the footwear maker’s stock worth $10,025,000 after purchasing an additional 14,498 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in Nike by 56.4% during the first quarter. Rehmann Capital Advisory Group now owns 15,695 shares of the footwear maker’s stock worth $875,000 after purchasing an additional 5,658 shares during the last quarter. UMB Bank N A MO lifted its stake in Nike by 6.3% during the first quarter. UMB Bank N A MO now owns 254,527 shares of the footwear maker’s stock worth $14,185,000 after purchasing an additional 15,109 shares during the last quarter. Finally, IFC Holdings Incorporated FL lifted its stake in Nike by 471.2% during the first quarter. IFC Holdings Incorporated FL now owns 29,430 shares of the footwear maker’s stock worth $1,642,000 after purchasing an additional 24,278 shares during the last quarter. Hedge funds and other institutional investors own 62.72% of the company’s stock.
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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