Nike, Inc. (NKE) Upgraded to “Hold” at Forward View
Nike, Inc. (NYSE:NKE) was upgraded by equities research analysts at Forward View from a “sell” rating to a “hold” rating in a report released on Sunday.
Several other research firms have also weighed in on NKE. Stifel Nicolaus set a $66.00 target price on Nike and gave the company a “buy” rating in a report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 target price on Nike and gave the company a “hold” rating in a report on Saturday, July 22nd. Guggenheim reissued a “buy” rating and issued a $70.00 target price on shares of Nike in a report on Monday, July 24th. Cowen and Company set a $54.00 target price on Nike and gave the company a “hold” rating in a report on Friday, August 4th. Finally, UBS AG set a $64.00 target price on Nike and gave the company a “buy” rating in a report on Monday, July 3rd. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $58.93.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. Nike’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 earnings per share.
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In other news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the transaction, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in NKE. V Wealth Management LLC bought a new stake in shares of Nike in the 2nd quarter worth approximately $100,000. Asset Planning Services Ltd. lifted its holdings 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 during the last quarter. Atlantic Trust LLC bought a new stake in shares of Nike in the 2nd quarter worth approximately $136,000. Howe & Rusling Inc. lifted its holdings 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 during the last quarter. Finally, Rational Advisors LLC lifted its holdings 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 during the last quarter. 62.46% 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.
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