Nike Rating Increased to Buy at Sterne Agee (NKE)
Nike (NYSE:NKE) was upgraded by stock analysts at Sterne Agee from a “neutral” rating to a “buy” rating in a report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $85.00 price target on the stock. Sterne Agee’s price target would suggest a potential upside of 20.84% from the stock’s previous close.
The analysts wrote, “Strong results, a 10% increase in FX neutral future orders, material improvement in the Western European business, and signs that China will return to double digit growth in 2015 lead us to upgrade the stock from Neutral to Buy and establish an $85 PT. Raising FY14/FY15 EPS estimate from $2.96/$3.35 to $3.04/$3.58. NKE is a best in class company, a leader in innovation, and a low-risk, high quality long-term investment.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus downgraded shares of Nike (NYSE:NKE) from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $68.00 price target on the stock. Separately, analysts at Buckingham Research raised their price target on shares of Nike (NYSE:NKE) from $68.00 to $81.00 in a research note to investors on Thursday. Finally, analysts at Janney Montgomery Scott raised their price target on shares of Nike (NYSE:NKE) from $57.00 to $65.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $72.70.
Nike (NYSE:NKE) traded up 4.56% on Friday, hitting $73.55. 10,839,994 shares of the company’s stock traded hands. Nike has a one year low of $44.825 and a one year high of $70.56. The stock’s 50-day moving average is $66.0 and its 200-day moving average is $62.84. The company has a market cap of $65.485 billion and a P/E ratio of 25.93. Nike also saw unusually large options trading activity on Wednesday. Investors bought 10,687 call options on the stock. This represents an increase of approximately 136% compared to the average volume of 4,522 call options.
Nike (NYSE:NKE) last announced its earnings results on Thursday, September 26th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.78 by $0.08. The company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis.
NIKE, Inc (NYSE:NKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.
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