Nike, Inc. (NKE) Receives “Outperform” Rating from Robert W. Baird
Nike, Inc. (NYSE:NKE)‘s stock had its “outperform” rating reiterated by equities researchers at Robert W. Baird in a research note issued on Monday. They currently have a $65.00 target price on the footwear maker’s stock. Robert W. Baird’s price target would suggest a potential upside of 22.09% from the company’s previous close.
A number of other analysts have also commented on NKE. Piper Jaffray Companies set a $50.00 target price on shares of Nike and gave the stock a “hold” rating in a report on Thursday, June 1st. Zacks Investment Research cut shares of Nike from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Vetr cut shares of Nike from a “buy” rating to a “hold” rating and set a $54.16 price target on the stock. in a research report on Monday, June 5th. Morgan Stanley reissued a “neutral” rating and set a $56.00 price target on shares of Nike in a research report on Wednesday, June 7th. Finally, Berenberg Bank reissued a “buy” rating and set a $70.00 price target on shares of Nike in a research report on Wednesday, June 14th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty have given a buy rating to the company. Nike has a consensus rating of “Hold” and an average price target of $60.04.
Shares of Nike (NKE) traded down 0.23% during midday trading on Monday, hitting $53.12. The stock had a trading volume of 6,544,314 shares. The stock has a market cap of $87.29 billion, a PE ratio of 21.16 and a beta of 0.61. Nike has a 52 week low of $49.01 and a 52 week high of $60.53. The stock has a 50-day moving average of $55.57 and a 200 day moving average of $55.39. Nike also was the recipient of unusually large options trading activity on Friday. Stock traders bought 12,554 call options on the company. This is an increase of approximately 135% compared to the typical volume of 5,346 call options.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. During the same quarter in the previous year, the business earned $0.49 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Nike will post $2.40 EPS for the current fiscal year.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the transaction, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,360 shares of company stock worth $29,340,374. Company insiders own 3.90% of the company’s stock.
Large investors have recently made changes to their positions in the business. Royal Bank of Scotland Group PLC grew its position in shares of Nike by 6.2% during the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock worth $11,582,000 after purchasing an additional 12,201 shares in the last quarter. North Star Asset Management Inc. grew its position in shares of Nike by 7.8% during the 1st quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock worth $3,162,000 after purchasing an additional 4,129 shares in the last quarter. Hartford Investment Management Co. grew its position in shares of Nike by 5.5% during the 2nd quarter. Hartford Investment Management Co. now owns 360,722 shares of the footwear maker’s stock worth $21,283,000 after purchasing an additional 18,759 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Nike by 3.7% during the 1st quarter. Fifth Third Bancorp now owns 1,120,494 shares of the footwear maker’s stock worth $62,445,000 after purchasing an additional 39,554 shares in the last quarter. Finally, Summit Global Investments acquired a new position in shares of Nike during the 1st quarter worth approximately $508,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.
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.
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