Nike Inc. (NKE) Stock Rating Reaffirmed by Barclays PLC
Nike Inc. (NYSE:NKE)‘s stock had its “overweight” rating reiterated by analysts at Barclays PLC in a report issued on Friday. They currently have a $65.00 price objective on the footwear maker’s stock. Barclays PLC’s price target would suggest a potential upside of 29.46% from the stock’s current price.
Several other brokerages have also issued reports on NKE. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. B. Riley lowered Nike from a “buy” rating to a “neutral” rating and raised their target price for the company from $58.66 to $62.00 in a research report on Friday, August 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 target price on shares of Nike in a research report on Friday, August 26th. Brean Capital reissued a “buy” rating and issued a $62.00 price objective on shares of Nike in a report on Sunday, August 21st. Finally, Vetr raised Nike from a “sell” rating to a “hold” rating and set a $56.94 price objective for the company in a report on Monday, August 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-two have assigned a buy rating to the stock. Nike currently has an average rating of “Buy” and an average price target of $63.45.
Shares of Nike (NYSE:NKE) opened at 50.21 on Friday. The company’s 50-day moving average is $51.76 and its 200 day moving average is $55.22. The company has a market cap of $83.62 billion, a PE ratio of 22.66 and a beta of 0.48. Nike has a 52-week low of $49.01 and a 52-week high of $68.19.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm earned $9.06 billion during the quarter. During the same period in the prior year, the business earned $1.34 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts anticipate that Nike will post $2.37 EPS for the current year.
In other news, Director John C. Lechleiter acquired 1,000 shares of Nike stock in a transaction that occurred on Friday, September 30th. The stock was bought at an average price of $52.72 per share, for a total transaction of $52,720.00. Following the completion of the transaction, the director now owns 27,560 shares in the company, valued at $1,452,963.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $49.78, for a total value of $7,467,000.00. Following the sale, the chairman now owns 1,985,225 shares of the company’s stock, valued at approximately $98,824,500.50. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. National Asset Management Inc. boosted its stake in shares of Nike by 3.9% in the third quarter. National Asset Management Inc. now owns 23,870 shares of the footwear maker’s stock worth $1,257,000 after buying an additional 898 shares during the last quarter. Riverpark Capital Management LLC bought a new stake in shares of Nike during the third quarter worth approximately $3,555,000. RiverPark Advisors LLC bought a new stake in shares of Nike during the third quarter worth approximately $2,144,000. Moors & Cabot Inc. boosted its stake in shares of Nike by 10.3% in the third quarter. Moors & Cabot Inc. now owns 53,224 shares of the footwear maker’s stock worth $2,811,000 after buying an additional 4,973 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Nike by 0.4% in the third quarter. Capital International Investors now owns 3,513,821 shares of the footwear maker’s stock worth $185,003,000 after buying an additional 13,997 shares during the last quarter. Institutional investors own 62.58% of the company’s stock.
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.
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