NIKE (NYSE:NKE) Given “Buy” Rating at UBS Group

NIKE (NYSE:NKE)‘s stock had its “buy” rating reissued by equities research analysts at UBS Group in a note issued to investors on Friday, Analyst Ratings Network reports. They presently have a $185.00 target price on the footwear maker’s stock. UBS Group’s price objective points to a potential upside of 23.67% from the stock’s previous close.

Several other research firms have also weighed in on NKE. BMO Capital Markets dropped their price objective on shares of NIKE from $174.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday. Oppenheimer upped their target price on shares of NIKE from $150.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, July 23rd. Pivotal Research restated a “buy” rating and issued a $175.00 target price on shares of NIKE in a research report on Tuesday, September 21st. Bank of America decreased their target price on shares of NIKE from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Morgan Stanley decreased their target price on shares of NIKE from $221.00 to $201.00 and set an “overweight” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, NIKE presently has an average rating of “Buy” and an average price target of $173.78.

NKE opened at $149.59 on Friday. The firm has a market cap of $236.62 billion, a price-to-earnings ratio of 42.02, a price-to-earnings-growth ratio of 2.49 and a beta of 0.87. NIKE has a fifty-two week low of $118.80 and a fifty-two week high of $174.38. The company’s 50-day moving average price is $164.95 and its 200 day moving average price is $147.73. The company has a quick ratio of 2.01, a current ratio of 2.72 and a debt-to-equity ratio of 0.74.

NIKE (NYSE:NKE) last released its quarterly earnings data on Wednesday, September 22nd. The footwear maker reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.04. The firm had revenue of $12.25 billion for the quarter, compared to analyst estimates of $12.47 billion. NIKE had a net margin of 12.86% and a return on equity of 51.41%. NIKE’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. Research analysts anticipate that NIKE will post 4.3 earnings per share for the current year.

In other NIKE news, CFO Matthew Friend sold 3,546 shares of NIKE stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $171.50, for a total transaction of $608,139.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Chris L. Abston sold 18,000 shares of NIKE stock in a transaction that occurred on Tuesday, June 29th. The stock was sold at an average price of $155.00, for a total transaction of $2,790,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,671 shares of company stock valued at $49,513,487. Company insiders own 3.70% of the company’s stock.

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of NIKE by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 104,646,829 shares of the footwear maker’s stock valued at $16,166,888,000 after buying an additional 483,565 shares during the period. State Street Corp boosted its stake in shares of NIKE by 0.4% during the 2nd quarter. State Street Corp now owns 55,268,621 shares of the footwear maker’s stock valued at $8,553,435,000 after buying an additional 217,552 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of NIKE by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 26,797,530 shares of the footwear maker’s stock valued at $3,561,122,000 after buying an additional 273,141 shares during the period. Alliancebernstein L.P. boosted its stake in shares of NIKE by 15.2% during the 2nd quarter. Alliancebernstein L.P. now owns 23,084,530 shares of the footwear maker’s stock valued at $3,566,329,000 after buying an additional 3,045,282 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of NIKE by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 20,423,343 shares of the footwear maker’s stock valued at $3,146,330,000 after buying an additional 399,340 shares during the period. 64.45% of the stock is owned by institutional investors.

NIKE Company Profile

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Analyst Recommendations for NIKE (NYSE:NKE)

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