Nike (NYSE:NKE) was upgraded by equities research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a $74.00 price target on the footwear maker’s stock. Wedbush’s price objective points to a potential upside of 10.10% from the stock’s current price. Wedbush also issued estimates for Nike’s Q4 2018 earnings at $0.70 EPS, FY2019 earnings at $2.67 EPS and FY2020 earnings at $3.05 EPS.
Several other research firms have also recently weighed in on NKE. Citigroup restated a “buy” rating and set a $74.00 price target on shares of Nike in a report on Tuesday, December 19th. Canaccord Genuity raised their price target on Nike from $50.00 to $64.00 and gave the company a “hold” rating in a report on Tuesday, December 19th. Zacks Investment Research upgraded Nike from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Tuesday, December 19th. Telsey Advisory Group raised their price target on Nike from $61.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, December 18th. Finally, Buckingham Research raised their price target on Nike from $64.00 to $71.00 and gave the company a “buy” rating in a report on Monday, December 18th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $64.94.
Nike (NKE) traded up $3.10 during trading hours on Friday, hitting $67.21. The company had a trading volume of 12,893,952 shares, compared to its average volume of 8,970,000. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. Nike has a 12-month low of $50.35 and a 12-month high of $67.24. The stock has a market capitalization of $109,650.00, a PE ratio of 29.10, a P/E/G ratio of 2.91 and a beta of 0.64.
Nike (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter last year, the business posted $0.50 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. research analysts predict that Nike will post 2.25 EPS for the current year.
In related news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the completion of the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John F. Slusher sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $63.09, for a total value of $6,309,000.00. Following the sale, the executive vice president now directly owns 268,169 shares of the company’s stock, valued at $16,918,782.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 967,896 shares of company stock valued at $60,257,267. Company insiders own 3.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Willingdon Wealth Management bought a new stake in shares of Nike during the 3rd quarter worth approximately $114,000. Asset Planning Services Ltd. lifted its stake in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the last quarter. Atlantic Trust LLC bought a new stake in shares of Nike during the 2nd quarter worth approximately $136,000. Howe & Rusling Inc. lifted its stake in shares of Nike by 751.3% during the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after acquiring an additional 2,329 shares during the last quarter. Finally, Kistler Tiffany Companies LLC lifted its stake in shares of Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after acquiring an additional 1,209 shares during the last quarter. 62.75% of the stock is owned by hedge funds and other institutional investors.
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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.