Nike, Inc. (NYSE:NKE)‘s stock had its “buy” rating restated by equities researchers at Piper Jaffray Companies in a report released on Thursday.

A number of other analysts have also issued reports on NKE. UBS AG reissued a “buy” rating and set a $62.00 target price (down from $63.00) on shares of Nike in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating in a research note on Thursday. FBR & Co set a $53.00 price objective on shares of Nike and gave the stock a “hold” rating in a research note on Saturday, July 1st. Canaccord Genuity set a $51.00 price objective on shares of Nike and gave the stock a “hold” rating in a research note on Saturday, July 1st. Finally, Wells Fargo & Company set a $56.00 price objective on shares of Nike and gave the stock a “hold” rating in a research note on Saturday, July 1st. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have issued a buy rating to the stock. Nike currently has a consensus rating of “Buy” and a consensus price target of $61.04.

Shares of Nike (NYSE:NKE) traded down 0.36% on Thursday, reaching $58.15. 8,103,622 shares of the company’s stock traded hands. The stock has a 50-day moving average of $55.76 and a 200 day moving average of $55.10. Nike has a 12-month low of $49.01 and a 12-month high of $60.33. The firm has a market cap of $95.55 billion, a P/E ratio of 23.17 and a beta of 0.60.

Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.10. The firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. On average, equities research analysts expect that Nike will post $2.42 earnings per share for the current year.

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In other news, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the transaction, the insider now owns 729,610 shares in the company, valued at approximately $42,047,424.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Campion sold 96,243 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the transaction, the chief financial officer now owns 50,246 shares in the company, valued at approximately $2,847,943.28. The disclosure for this sale can be found here. Insiders have sold a total of 380,037 shares of company stock worth $21,901,923 in the last quarter. Insiders own 3.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lee Danner & Bass Inc. increased its position in Nike by 5.3% in the second quarter. Lee Danner & Bass Inc. now owns 5,961 shares of the footwear maker’s stock valued at $352,000 after buying an additional 300 shares in the last quarter. Lyell Wealth Management LP increased its position in Nike by 2.5% in the second quarter. Lyell Wealth Management LP now owns 51,062 shares of the footwear maker’s stock valued at $3,021,000 after buying an additional 1,260 shares in the last quarter. CAPROCK Group Inc. increased its position in Nike by 145.9% in the second quarter. CAPROCK Group Inc. now owns 11,933 shares of the footwear maker’s stock valued at $706,000 after buying an additional 7,081 shares in the last quarter. Nwam LLC increased its position in Nike by 6.7% in the second quarter. Nwam LLC now owns 7,244 shares of the footwear maker’s stock valued at $427,000 after buying an additional 453 shares in the last quarter. Finally, Lourd Capital LLC increased its position in Nike by 3.5% in the second quarter. Lourd Capital LLC now owns 5,551 shares of the footwear maker’s stock valued at $328,000 after buying an additional 189 shares in the last quarter. 64.17% of the stock is owned by hedge funds and other institutional investors.

Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Analyst Recommendations for Nike (NYSE:NKE)

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