Nike, Inc. (NKE) Downgraded to “Buy” at Vetr Inc.
Nike, Inc. (NYSE:NKE) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday. They presently have a $58.87 target price on the footwear maker’s stock. Vetr‘s target price would suggest a potential upside of 11.01% from the company’s current price.
Several other equities research analysts have also issued reports on NKE. Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Nike in a report on Monday, May 15th. Nomura reaffirmed a “buy” rating on shares of Nike in a report on Monday, May 15th. Instinet reaffirmed a “buy” rating on shares of Nike in a report on Monday, May 15th. Berenberg Bank started coverage on shares of Nike in a report on Tuesday, May 16th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Canaccord Genuity set a $51.00 price target on shares of Nike and gave the company a “hold” rating in a report on Friday, May 26th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $60.42.
Shares of Nike (NYSE NKE) opened at 53.03 on Tuesday. Nike has a 1-year low of $49.01 and a 1-year high of $60.53. The company has a market capitalization of $87.14 billion, a PE ratio of 21.13 and a beta of 0.61. The stock’s 50 day moving average is $56.57 and its 200 day moving average is $55.58.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. On average, equities research analysts anticipate that Nike will post $2.41 EPS for the current fiscal year.
In other news, insider Eric D. Sprunk sold 112,323 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $58.61, for a total value of $6,583,251.03. Following the completion of the sale, the insider now owns 139,551 shares in the company, valued at approximately $8,179,084.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Campion sold 96,243 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the sale, the chief financial officer now owns 50,246 shares of the company’s stock, valued at approximately $2,847,943.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 492,360 shares of company stock valued at $28,485,174. Company insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. V Wealth Management LLC bought a new position in Nike during the second quarter valued at about $100,000. Crestwood Advisors Group LLC bought a new position in Nike during the first quarter valued at about $117,000. Webster Bank N. A. grew its position in Nike by 75.5% during the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares during the period. Asset Planning Services Ltd. grew its position in Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after buying an additional 7 shares during the period. Finally, Atlantic Trust LLC bought a new position in Nike during the second quarter valued at about $136,000. Hedge funds and other institutional investors own 62.72% 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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