Nike, Inc. (NKE) Upgraded by Vetr Inc. to Buy
Nike, Inc. (NYSE:NKE) was upgraded by Vetr from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $58.95 target price on the footwear maker’s stock. Vetr‘s target price would indicate a potential upside of 6.66% from the company’s current price.
A number of other analysts have also recently commented on the company. Jefferies Group LLC cut Nike to a “buy” rating in a research report on Tuesday, August 29th. Telsey Advisory Group reduced their price target on Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. Morgan Stanley upgraded Nike from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $56.00 to $68.00 in a research report on Wednesday, July 19th. Stifel Nicolaus restated a “buy” rating and issued a $66.00 price target on shares of Nike in a research report on Thursday, August 24th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $61.00 price target (down previously from $69.00) on shares of Nike in a research report on Wednesday, September 13th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $58.93.
Shares of Nike (NKE) traded down 1.23% on Monday, reaching $55.27. The company’s stock had a trading volume of 10,169,401 shares. The company’s 50-day moving average is $52.94 and its 200 day moving average is $54.68. Nike has a 12-month low of $49.01 and a 12-month high of $60.53. The company has a market capitalization of $90.17 billion, a price-to-earnings ratio of 23.53 and a beta of 0.61.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 earnings per share. Equities analysts anticipate that Nike will post $2.33 earnings per share for the current fiscal year.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of NKE. V Wealth Management LLC acquired a new stake in shares of Nike in the 2nd quarter worth $100,000. Asset Planning Services Ltd. boosted its position in shares of Nike by 0.3% in the 2nd 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 in the last quarter. Atlantic Trust LLC acquired a new stake in shares of Nike in the 2nd quarter worth $136,000. Howe & Rusling Inc. boosted its position in shares of Nike by 751.3% in the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Rational Advisors LLC boosted its position in shares of Nike by 14.3% in the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after purchasing an additional 321 shares in the last quarter. 62.46% of the stock is owned by hedge funds and other institutional investors.
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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