Nike (NYSE:NKE) was upgraded by Wedbush from a “neutral” rating to an “outperform” rating in a research report issued on Friday. The firm currently has a $74.00 price target on the footwear maker’s stock. Wedbush’s price objective indicates a potential upside of 10.10% from the company’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.
Other equities research analysts have also issued research reports about the company. Nomura dropped their price target on Nike from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, September 27th. Citigroup reaffirmed a “buy” rating and set a $65.00 price target (down previously from $67.00) on shares of Nike in a research note on Wednesday, September 27th. Instinet reaffirmed a “buy” rating and set a $62.00 price target (up previously from $59.00) on shares of Nike in a research note on Wednesday, September 27th. Buckingham Research reaffirmed a “buy” rating and set a $64.00 price target on shares of Nike in a research note on Thursday, September 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price target on shares of Nike in a research note on Saturday, September 30th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $64.94.
Shares of Nike (NYSE:NKE) opened at $67.21 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. Nike has a 52 week low of $50.35 and a 52 week high of $67.24. The stock has a market capitalization of $109,346.56, a PE ratio of 29.10, a price-to-earnings-growth ratio of 3.05 and a beta of 0.64.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $8.39 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. sell-side analysts forecast that Nike will post 2.25 EPS for the current year.
In related news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the transaction, the chief operating officer now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 967,896 shares of company stock worth $60,257,267. 3.90% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Nike by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock worth $5,876,718,000 after acquiring an additional 2,452,993 shares during the period. Capital Research Global Investors grew its holdings in shares of Nike by 10.4% during the 2nd quarter. Capital Research Global Investors now owns 24,135,396 shares of the footwear maker’s stock worth $1,423,988,000 after acquiring an additional 2,274,869 shares during the period. Capital World Investors grew its holdings in shares of Nike by 58.7% during the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after acquiring an additional 8,058,601 shares during the period. Northern Trust Corp grew its holdings in shares of Nike by 6.7% during the 2nd quarter. Northern Trust Corp now owns 21,502,892 shares of the footwear maker’s stock worth $1,268,671,000 after acquiring an additional 1,344,638 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of Nike by 4,252.6% during the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after acquiring an additional 16,237,557 shares during the period. Institutional investors own 62.75% of the company’s stock.
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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.
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