Nike (NKE) Receives Buy Rating from Macquarie

Nike (NYSE:NKE)‘s stock had its “buy” rating reissued by analysts at Macquarie in a report issued on Friday. They currently have a $80.00 price target on the footwear maker’s stock. Macquarie’s target price suggests a potential upside of 23.78% from the company’s previous close.

Several other research firms also recently commented on NKE. Oppenheimer raised shares of Nike to a “buy” rating in a report on Wednesday, January 31st. Stifel Nicolaus raised their price objective on shares of Nike from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Citigroup reaffirmed a “buy” rating and issued a $78.00 price objective (up from $74.00) on shares of Nike in a report on Wednesday, January 31st. Zacks Investment Research downgraded shares of Nike from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Finally, Buckingham Research raised their price target on shares of Nike from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $68.07.

Nike (NYSE:NKE) opened at $64.63 on Friday. The company has a market cap of $104,807.41, a P/E ratio of 60.97, a P/E/G ratio of 2.92 and a beta of 0.68. Nike has a fifty-two week low of $50.35 and a fifty-two week high of $70.25. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.

Nike (NYSE:NKE) last released its quarterly earnings data 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 company had revenue of $8.98 billion during 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%. Nike’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. analysts predict that Nike will post 2.25 earnings per share for the current year.

In related news, EVP John F. Slusher sold 100,000 shares of Nike stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $63.09, for a total value of $6,309,000.00. Following the transaction, the executive vice president now owns 268,169 shares in the company, valued at approximately $16,918,782.21. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction on 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 owns 1,637,736 shares in the company, valued at approximately $114,641,520. The disclosure for this sale can be found here. In the last quarter, insiders sold 912,802 shares of company stock worth $58,993,107. 3.90% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Capital Research Global Investors raised its position in Nike by 10.4% in the 2nd quarter. Capital Research Global Investors now owns 24,135,396 shares of the footwear maker’s stock worth $1,423,988,000 after purchasing an additional 2,274,869 shares during the period. Capital World Investors increased its position in shares of Nike by 58.7% in the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after acquiring an additional 8,058,601 shares during the period. Janus Henderson Group PLC increased its position in shares of Nike by 4,252.6% in the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock valued at $980,539,000 after acquiring an additional 16,237,557 shares during the period. Geode Capital Management LLC increased its position in shares of Nike by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 14,472,375 shares of the footwear maker’s stock valued at $903,432,000 after acquiring an additional 336,633 shares during the period. Finally, Edgewood Management LLC increased its position in shares of Nike by 15.7% in the third quarter. Edgewood Management LLC now owns 14,245,826 shares of the footwear maker’s stock valued at $738,646,000 after acquiring an additional 1,936,811 shares during the period. Institutional investors own 65.65% of the company’s stock.

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About Nike

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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