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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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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