Nike (NYSE:NKE)‘s stock had its “buy” rating reiterated by research analysts at UBS Group in a note issued to investors on Monday, Borsen Zeitung reports. They currently have a $127.00 target price on the footwear maker’s stock. UBS Group’s target price indicates a potential upside of 29.53% from the stock’s current price.
NKE has been the topic of several other research reports. Sanford C. Bernstein lifted their price objective on shares of Nike from $101.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. Credit Suisse Group dropped their target price on shares of Nike from $114.00 to $111.00 and set an “outperform” rating on the stock in a research report on Friday, June 26th. Jefferies Financial Group lifted their target price on shares of Nike from $83.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Goldman Sachs Group restated a “buy” rating and set a $110.00 price target (up from $96.00) on shares of Nike in a report on Friday, June 26th. Finally, Oppenheimer began coverage on shares of Nike in a report on Friday, June 26th. They set a “buy” rating and a $115.00 price target for the company. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $108.96.
Shares of NKE opened at $98.05 on Monday. The firm’s 50 day moving average is $96.34 and its 200-day moving average is $93.52. The stock has a market capitalization of $145.66 billion, a P/E ratio of 62.06, a P/E/G ratio of 3.05 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.90 and a quick ratio of 1.20. Nike has a 12-month low of $60.00 and a 12-month high of $105.62.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.53). The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $7.26 billion. Nike had a return on equity of 31.93% and a net margin of 6.79%. The business’s revenue for the quarter was down 38.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. As a group, equities research analysts forecast that Nike will post 2.51 EPS for the current fiscal year.
In related news, Director John W. Rogers, Jr. bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 3rd. The shares were acquired at an average price of $84.63 per share, with a total value of $84,630.00. Following the completion of the transaction, the director now owns 12,851 shares of the company’s stock, valued at approximately $1,087,580.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 165,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $99.14, for a total transaction of $16,358,100.00. Following the transaction, the chairman now directly owns 2,012,954 shares in the company, valued at approximately $199,564,259.56. The disclosure for this sale can be found here. Insiders sold 236,000 shares of company stock valued at $23,228,100 over the last 90 days. 3.80% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Sowa Financial Group Inc. bought a new position in Nike during the fourth quarter worth $27,000. Kessler Investment Group LLC bought a new position in Nike during the first quarter worth $27,000. Stuart Chaussee & Associates Inc. increased its position in Nike by 668.9% during the first quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 301 shares during the period. PSI Advisors LLC bought a new position in Nike during the fourth quarter worth $37,000. Finally, Benjamin Edwards Inc. increased its holdings in Nike by 100.5% in the 1st quarter. Benjamin Edwards Inc. now owns 399 shares of the footwear maker’s stock valued at $33,000 after buying an additional 200 shares during the period. 64.54% of the stock is currently owned by institutional investors and hedge funds.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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