Nike (NKE) Research Coverage Started at Buckingham Research
Analysts at Buckingham Research began coverage on shares of Nike (NYSE:NKE) in a report released on Saturday. The brokerage set a “buy” rating and a $72.00 price target on the footwear maker’s stock. Buckingham Research’s price target would indicate a potential upside of 12.54% from the stock’s previous close.
Several other equities analysts have also commented on NKE. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 target price on the stock in a report on Wednesday, October 4th. Susquehanna Bancshares reissued a “hold” rating and issued a $57.00 target price on shares of Nike in a report on Wednesday, December 13th. DA Davidson raised their target price on shares of Nike from $68.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, December 26th. Canaccord Genuity reissued a “hold” rating and issued a $50.00 target price (down from $51.00) on shares of Nike in a report on Wednesday, September 27th. Finally, Instinet reissued a “buy” rating and issued a $62.00 target price (up from $59.00) on shares of Nike in a report on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $64.09.
Shares of Nike (NKE) opened at $63.98 on Friday. Nike has a 12 month low of $50.35 and a 12 month high of $65.18. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The firm has a market cap of $104,380.00, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.87 and a beta of 0.64.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The business had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter in the previous year, the company earned $0.50 EPS. The business’s revenue was up 4.6% on a year-over-year basis. equities analysts expect that Nike will post 2.25 earnings per share for the current fiscal year.
In other news, EVP John F. Slusher sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $63.09, for a total value of $6,309,000.00. Following the transaction, the executive vice president now owns 268,169 shares in the company, valued at approximately $16,918,782.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the transaction, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. Insiders have sold a total of 967,896 shares of company stock worth $60,257,267 over the last three months. Insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. QUANTRES ASSET MANAGEMENT Ltd lifted its position in shares of Nike by 16.8% during the 4th quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 24,300 shares of the footwear maker’s stock valued at $1,520,000 after acquiring an additional 3,500 shares during the period. Stillwater Investment Management LLC lifted its position in shares of Nike by 2.1% during the 4th quarter. Stillwater Investment Management LLC now owns 38,305 shares of the footwear maker’s stock valued at $2,396,000 after acquiring an additional 800 shares during the period. Lynch & Associates IN acquired a new position in shares of Nike during the 4th quarter valued at $202,000. Renaissance Investment Group LLC acquired a new position in shares of Nike during the 4th quarter valued at $212,000. Finally, Washington Trust Bank lifted its position in shares of Nike by 48.3% during the 4th quarter. Washington Trust Bank now owns 32,442 shares of the footwear maker’s stock valued at $2,029,000 after acquiring an additional 10,566 shares during the period. Hedge funds and other institutional investors own 62.67% 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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