NIKE’s (NKE) “Equal Weight” Rating Reiterated at Morgan Stanley

NIKE (NYSE:NKE)‘s stock had its “equal weight” rating restated by research analysts at Morgan Stanley in a report released on Friday, Benzinga reports. They presently have a $79.00 target price on the footwear maker’s stock. Morgan Stanley’s price objective would indicate a potential downside of 8.69% from the stock’s previous close.

Several other analysts also recently weighed in on NKE. Telsey Advisory Group cut their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Wedbush cut their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $92.00 price target on shares of NIKE in a research report on Friday. Finally, The Goldman Sachs Group decreased their price objective on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $96.15.

NIKE Stock Performance

Shares of NKE opened at $86.52 on Friday. The firm has a fifty day moving average of $78.11 and a 200-day moving average of $87.06. The company has a market cap of $130.59 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the business posted $0.66 EPS. NIKE’s revenue was down 1.6% on a year-over-year basis. As a group, equities analysts anticipate that NIKE will post 3.06 earnings per share for the current year.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

A number of institutional investors have recently added to or reduced their stakes in NKE. 9258 Wealth Management LLC increased its position in NIKE by 23.9% during the fourth quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after buying an additional 842 shares during the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of NIKE by 34.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock valued at $1,259,000 after acquiring an additional 2,981 shares during the last quarter. TrinityPoint Wealth LLC raised its stake in shares of NIKE by 0.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock valued at $2,341,000 after acquiring an additional 166 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in NIKE by 26.4% in the 4th quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock worth $66,000 after purchasing an additional 126 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in NIKE by 6.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock worth $13,767,000 after purchasing an additional 7,769 shares during the period. 64.25% 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, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.