Nike (NKE) Raised to Outperform at Wedbush

Wedbush upgraded shares of Nike (NYSE:NKE) from a neutral rating to an outperform rating in a research report sent to investors on Friday, January 19th, Marketbeat.com reports. The brokerage currently has $74.00 target price on the footwear maker’s stock. 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 commented on NKE. Forward View cut Nike from a hold rating to a sell rating in a research note on Friday, September 22nd. Zacks Investment Research cut Nike from a hold rating to a sell rating in a research note on Monday, September 25th. Robert W. Baird reiterated an outperform rating and set a $65.00 target price on shares of Nike in a research note on Monday, September 25th. Needham & Company LLC reiterated a hold rating on shares of Nike in a research note on Monday, September 25th. Finally, FBR & Co reiterated a hold rating and set a $53.00 target price on shares of Nike in a research note on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have given a buy rating to the stock. Nike has an average rating of Buy and an average target price of $65.37.

Nike (NYSE NKE) traded up $0.49 on Friday, reaching $65.98. 9,790,000 shares of the company were exchanged, compared to its average volume of 8,160,000. The firm has a market cap of $107,650.00, a P/E ratio of 28.56, a PEG ratio of 2.96 and a beta of 0.68. Nike has a 12-month low of $50.35 and a 12-month high of $68.83. 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 (NYSE:NKE) last released its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. Nike’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. analysts expect that Nike will post 2.26 EPS for the current year.

In other news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the sale, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric D. Sprunk sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $67.66, for a total value of $6,766,000.00. Following the sale, the insider now directly owns 227,199 shares of the company’s stock, valued at $15,372,284.34. The disclosure for this sale can be found here. Insiders have sold a total of 932,896 shares of company stock valued at $59,594,217 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Several hedge funds have recently modified their holdings of NKE. Fiduciary Trust Co. grew its holdings in Nike by 4.9% in the 2nd quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after buying an additional 10,840 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its stake in Nike by 651.4% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after buying an additional 23,450 shares in the last quarter. Great Lakes Advisors LLC boosted its stake in Nike by 4.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after buying an additional 4,030 shares in the last quarter. Amalgamated Bank boosted its stake in Nike by 2.0% in the 3rd quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock valued at $8,261,000 after buying an additional 3,189 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its position in Nike by 20.0% in the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after purchasing an additional 17,285 shares during the last quarter. 62.65% of the stock is currently owned by institutional investors and hedge funds.

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About Nike

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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