Nike (NYSE:NKE)‘s stock had its “neutral” rating reaffirmed by equities researchers at JPMorgan Chase & Co. in a report released on Monday, The Fly reports. They currently have a $85.00 target price on the footwear maker’s stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 12.15% from the company’s previous close.
Other equities research analysts also recently issued reports about the stock. Wedbush increased their price objective on shares of Nike from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, September 10th. Morgan Stanley reiterated a “buy” rating and set a $88.00 price objective on shares of Nike in a research note on Wednesday, September 12th. Wells Fargo & Co set a $82.00 price objective on shares of Nike and gave the stock a “neutral” rating in a research note on Monday, August 6th. Telsey Advisory Group increased their price objective on shares of Nike from $87.00 to $92.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 18th. Finally, B. Riley reiterated a “neutral” rating and set a $84.00 price objective (up from $76.00) on shares of Nike in a research note on Wednesday, September 19th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have given a buy rating to the stock. Nike presently has an average rating of “Buy” and a consensus target price of $85.85.
Shares of Nike stock opened at $75.79 on Monday. The stock has a market cap of $119.30 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 2.44 and a beta of 0.76. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.31. Nike has a 12-month low of $59.65 and a 12-month high of $86.04.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.92 billion. Nike had a net margin of 5.57% and a return on equity of 40.69%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. On average, analysts predict that Nike will post 2.63 EPS for the current fiscal year.
In related news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the sale, the director now directly owns 26,963 shares in the company, valued at approximately $2,293,203.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $85.00, for a total transaction of $1,445,000.00. Following the sale, the executive vice president now owns 104,737 shares in the company, valued at $8,902,645. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock worth $4,219,350. 3.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in NKE. Dupont Capital Management Corp increased its position in shares of Nike by 179.8% in the second quarter. Dupont Capital Management Corp now owns 26,904 shares of the footwear maker’s stock worth $2,144,000 after purchasing an additional 17,289 shares during the last quarter. Alps Advisors Inc. boosted its position in Nike by 12.3% during the second quarter. Alps Advisors Inc. now owns 10,937 shares of the footwear maker’s stock worth $684,000 after purchasing an additional 1,197 shares in the last quarter. Montag A & Associates Inc. boosted its position in Nike by 27.1% during the second quarter. Montag A & Associates Inc. now owns 45,987 shares of the footwear maker’s stock worth $3,664,000 after purchasing an additional 9,803 shares in the last quarter. Nvwm LLC raised its holdings in shares of Nike by 92.0% during the second quarter. Nvwm LLC now owns 16,445 shares of the footwear maker’s stock valued at $1,312,000 after acquiring an additional 7,881 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC raised its holdings in shares of Nike by 7.9% during the second quarter. Balasa Dinverno & Foltz LLC now owns 10,054 shares of the footwear maker’s stock valued at $801,000 after acquiring an additional 732 shares during the last quarter. Hedge funds and other institutional investors own 64.09% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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