Nike, Inc. (NKE) Earns Buy Rating from Robert W. Baird
Nike, Inc. (NYSE:NKE)‘s stock had its “buy” rating restated by stock analysts at Robert W. Baird in a research note issued on Friday. They presently have a $65.00 target price on the footwear maker’s stock. Robert W. Baird’s target price would suggest a potential upside of 10.66% from the stock’s current price.
A number of other research analysts also recently weighed in on the stock. Morgan Stanley restated a “buy” rating and set a $64.00 price objective (down previously from $68.00) on shares of Nike in a research report on Tuesday, August 29th. Telsey Advisory Group lowered their price objective on shares of Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price objective on the stock in a research report on Wednesday, September 6th. Cowen and Company set a $54.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $55.00 price objective (down previously from $56.00) on shares of Nike in a research report on Tuesday, September 19th. Three research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and nineteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $58.92.
Nike (NYSE:NKE) traded up $1.51 during trading hours on Friday, hitting $58.74. 6,710,000 shares of the stock were exchanged, compared to its average volume of 10,520,000. Nike has a 1 year low of $50.06 and a 1 year high of $60.53. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $95,840.00, a PE ratio of 24.10, a price-to-earnings-growth ratio of 2.65 and a beta of 0.60.
In other news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the sale, the chairman now owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the sale, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
Several large investors have recently bought and sold shares of NKE. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Nike by 0.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,937,749 shares of the footwear maker’s stock valued at $163,721,000 after purchasing an additional 7,447 shares in the last quarter. Rational Advisors LLC raised 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 valued at $143,000 after purchasing an additional 321 shares in the last quarter. Windsor Capital Management LLC bought a new stake in shares of Nike in the 1st quarter valued at about $290,000. Compton Capital Management Inc. RI grew its position in shares of Nike by 0.5% in the 1st quarter. Compton Capital Management Inc. RI now owns 78,903 shares of the footwear maker’s stock worth $4,397,000 after buying an additional 400 shares during the last quarter. Finally, Ingalls & Snyder LLC purchased a new position in shares of Nike in the 1st quarter worth approximately $432,000. Institutional investors and hedge funds own 62.24% of the company’s stock.
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.
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