Nike’s (NKE) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

Nike (NYSE:NKE)‘s stock had its “neutral” rating restated by equities researchers at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday. They currently have a $58.00 price objective on the footwear maker’s stock. JPMorgan Chase & Co.’s price target suggests a potential downside of 10.26% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Deutsche Bank set a $76.00 target price on shares of Nike and gave the stock a “buy” rating in a research report on Thursday, December 14th. Argus raised shares of Nike from a “hold” rating to a “buy” rating and increased their target price for the stock from $50.35 to $64.46 in a research report on Thursday, December 14th. DA Davidson set a $68.00 target price on shares of Nike and gave the stock a “buy” rating in a research report on Thursday, December 14th. Stifel Nicolaus set a $74.00 target price on shares of Nike and gave the stock a “buy” rating in a research report on Friday, December 15th. Finally, Guggenheim reissued a “buy” rating and set a $70.00 target price on shares of Nike in a research report on Friday, December 15th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $68.07.

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Nike (NYSE:NKE) traded up $0.21 during trading on Friday, reaching $64.63. 17,342,645 shares of the company’s stock traded hands, compared to its average volume of 7,119,039. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. The firm has a market capitalization of $104,807.41, a P/E ratio of 60.97, a price-to-earnings-growth ratio of 2.92 and a beta of 0.68. Nike has a 52-week low of $50.35 and a 52-week high of $70.25.

Nike (NYSE:NKE) last posted its earnings results on Thursday, March 22nd. The footwear maker reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.15. The firm had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $8.85 billion. Nike had a net margin of 5.11% and a return on equity of 31.81%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. equities research analysts forecast that Nike will post 2.25 EPS for the current year.

In related news, COO Eric D. Sprunk sold 226,040 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the transaction, the chief operating officer now owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the completion of the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $114,641,520. The disclosure for this sale can be found here. Insiders sold 912,802 shares of company stock valued at $58,993,107 in the last three months. Company insiders own 3.90% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Amalgamated Bank increased its holdings in shares of Nike by 2.0% during the third quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock worth $8,261,000 after buying an additional 3,189 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Nike by 3.9% during the third quarter. Stifel Financial Corp now owns 1,319,016 shares of the footwear maker’s stock worth $68,428,000 after buying an additional 49,251 shares in the last quarter. Sun Life Financial INC increased its holdings in shares of Nike by 23,747.5% during the second quarter. Sun Life Financial INC now owns 9,539 shares of the footwear maker’s stock worth $563,000 after buying an additional 9,499 shares in the last quarter. Sather Financial Group Inc acquired a new stake in shares of Nike during the second quarter worth approximately $9,275,000. Finally, Capital Bank & Trust Co increased its holdings in shares of Nike by 63.7% during the third quarter. Capital Bank & Trust Co now owns 653,742 shares of the footwear maker’s stock worth $33,897,000 after buying an additional 254,372 shares in the last quarter. 65.65% of the stock is owned by hedge funds and other institutional investors.

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Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

Analyst Recommendations for Nike (NYSE:NKE)

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