Nike (NKE) Rating Reiterated by Wedbush

Nike (NYSE:NKE)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research report issued to clients and investors on Friday. They presently have a $74.00 price objective on the footwear maker’s stock, down from their prior price objective of $75.00. Wedbush’s price objective indicates a potential upside of 14.50% from the stock’s current price.

NKE has been the topic of a number of other research reports. Goldman Sachs set a $59.00 target price on shares of Nike and gave the company a “neutral” rating in a research note on Thursday, December 14th. HSBC cut shares of Nike from a “buy” rating to a “hold” rating and lifted their target price for the company from $58.95 to $62.00 in a research note on Tuesday, November 28th. Buckingham Research began coverage on shares of Nike in a research note on Sunday, December 31st. They set a “buy” rating and a $72.00 target price on the stock. B. Riley boosted their price target on shares of Nike from $53.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, December 22nd. Finally, Deutsche Bank set a $76.00 price target on shares of Nike and gave the stock a “buy” rating in a research note on Thursday, December 14th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $68.07.

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

Nike (NYSE:NKE) last released its earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.15. Nike had a net margin of 5.11% and a return on equity of 31.81%. The company had revenue of $8.98 billion for the quarter, compared to analysts’ expectations of $8.85 billion. During the same quarter in the previous year, the company earned $0.68 EPS. Nike’s revenue for the quarter was up 6.5% on a year-over-year basis. research analysts expect that Nike will post 2.25 earnings per share for the current year.

In related news, insider Eric D. Sprunk sold 100,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the completion of the sale, the insider now owns 227,199 shares of the company’s stock, valued at $15,372,284.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the sale, 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 have sold 912,802 shares of company stock valued at $58,993,107 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of NKE. Field & Main Bank purchased a new stake in Nike during the fourth quarter valued at approximately $100,000. Wagner Wealth Management LLC acquired a new position in Nike during the 4th quarter valued at approximately $103,000. G&S Capital LLC acquired a new position in Nike during the 4th quarter valued at approximately $112,000. Willingdon Wealth Management acquired a new position in Nike during the 3rd quarter valued at approximately $114,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in Nike during the 4th quarter valued at approximately $116,000. 65.65% of the stock is owned by institutional investors.

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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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