Nike Inc (NKE) Receives Average Rating of “Buy” from Brokerages

Nike Inc (NYSE:NKE) has received an average rating of “Buy” from the forty-two analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and twenty-three have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $65.45.

A number of analysts have commented on the company. B. Riley reissued a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 target price on shares of Nike in a report on Friday, December 22nd. Macquarie set a $72.00 target price on Nike and gave the stock a “buy” rating in a report on Thursday, January 11th. Cowen set a $64.00 target price on Nike and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, UBS Group set a $76.00 target price on Nike and gave the stock a “buy” rating in a report on Thursday, February 1st.

In related news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction on Monday, December 18th. The stock was sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the transaction, the chairman now directly owns 1,502,830 shares in the company, valued at $97,683,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction on Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the transaction, the executive vice president now owns 23,248 shares in the company, valued at $1,441,376. The disclosure for this sale can be found here. Insiders sold 932,896 shares of company stock valued at $59,594,217 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Janus Henderson Group PLC lifted its position in Nike by 4,252.6% during the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock valued at $980,539,000 after purchasing an additional 16,237,557 shares in the last quarter. Capital World Investors lifted its position in shares of Nike by 58.7% in the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after acquiring an additional 8,058,601 shares in the last quarter. Harding Loevner LP lifted its position in shares of Nike by 97.1% in the third quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock valued at $390,421,000 after acquiring an additional 5,987,728 shares in the last quarter. Orbis Allan Gray Ltd purchased a new position in shares of Nike in the second quarter valued at about $226,588,000. Finally, Alliancebernstein L.P. lifted its position in shares of Nike by 25.5% in the second quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock valued at $880,730,000 after acquiring an additional 3,033,280 shares in the last quarter. Institutional investors own 62.78% of the company’s stock.

Nike (NYSE:NKE) traded up $3.00 during mid-day trading on Friday, reaching $65.49. The company had a trading volume of 13,730,000 shares, compared to its average volume of 8,000,000. Nike has a one year low of $50.35 and a one year high of $68.83. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The company has a market cap of $106,850.00, a price-to-earnings ratio of 28.35, a PEG ratio of 2.97 and a beta of 0.68.

Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. equities research analysts predict that Nike will post 2.26 earnings per share for the current year.

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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.

Analyst Recommendations for Nike (NYSE:NKE)

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