Nike, Inc. (NKE) Stock Rating Lowered by Vetr Inc.
Nike, Inc. (NYSE:NKE) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Thursday. They presently have a $57.75 price objective on the footwear maker’s stock. Vetr‘s target price indicates a potential upside of 1.65% from the company’s current price.
NKE has been the topic of a number of other research reports. Piper Jaffray Companies set a $50.00 price objective on Nike and gave the company a “hold” rating in a report on Saturday, July 1st. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a report on Tuesday. Robert W. Baird reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Nike in a report on Friday, June 30th. Citigroup Inc reissued a “buy” rating and set a $65.00 price target (down previously from $67.00) on shares of Nike in a research note on Wednesday, September 27th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $58.00 price target (down previously from $63.00) on shares of Nike in a research note on Monday, August 21st. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and nineteen have given a buy rating to the company. Nike has an average rating of “Hold” and a consensus target price of $58.90.
Shares of Nike (NKE) traded up 3.40% during trading on Thursday, reaching $56.81. The company’s stock had a trading volume of 22,185,144 shares. The firm has a market capitalization of $92.69 billion, a P/E ratio of 24.18 and a beta of 0.61. The company has a 50 day moving average price of $52.64 and a 200 day moving average price of $54.66. Nike has a 52 week low of $49.01 and a 52 week high of $60.53.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the previous year, the company earned $0.73 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts expect that Nike will post $2.33 EPS for the current fiscal year.
In other news, insider Eric D. Sprunk sold 112,323 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the transaction, the insider now owns 139,551 shares of the company’s stock, valued at $8,179,084.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the transaction, the director now directly owns 25,660 shares in the company, valued at approximately $1,371,527. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. V Wealth Management LLC bought a new position in shares of Nike during the second quarter worth about $100,000. Asset Planning Services Ltd. lifted its position in shares of Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the last quarter. Atlantic Trust LLC bought a new position in shares of Nike during the second quarter worth about $136,000. Kistler Tiffany Companies LLC lifted its position in shares of Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares during the last quarter. Finally, Rational Advisors LLC lifted its position in shares of Nike by 14.3% during the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after purchasing an additional 321 shares during the last quarter. 62.51% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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