NIKE’s (NKE) Outperform Rating Reaffirmed at Royal Bank Of Canada

NIKE (NYSE:NKE)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank Of Canada in a research note issued on Thursday,Benzinga reports. They currently have a $78.00 price objective on the footwear maker’s stock. Royal Bank Of Canada’s price target points to a potential upside of 34.85% from the company’s current price.

NKE has been the topic of several other research reports. Citigroup reaffirmed a “neutral” rating and set a $65.00 price target (down from $70.00) on shares of NIKE in a report on Friday, December 19th. The Goldman Sachs Group decreased their price objective on shares of NIKE from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Guggenheim restated a “buy” rating on shares of NIKE in a research note on Wednesday, December 31st. JPMorgan Chase & Co. cut their price target on NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Finally, Wells Fargo & Company set a $65.00 price target on NIKE and gave the company an “overweight” rating in a report on Friday, December 19th. Twenty-two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $74.61.

NIKE Stock Performance

NYSE:NKE traded down $0.80 during mid-day trading on Thursday, hitting $57.84. 5,285,184 shares of the company traded hands, compared to its average volume of 15,404,594. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The stock’s fifty day moving average price is $63.38 and its 200-day moving average price is $66.67. The firm has a market cap of $85.63 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 3.04 and a beta of 1.27. NIKE has a one year low of $52.28 and a one year high of $80.19.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. Research analysts anticipate that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,691 shares of NIKE stock in a transaction that occurred on Monday, December 22nd. The shares were bought at an average price of $57.54 per share, for a total transaction of $500,080.14. Following the completion of the transaction, the director owned 43,293 shares of the company’s stock, valued at approximately $2,491,079.22. This trade represents a 25.12% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Timothy D. Cook purchased 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average cost of $58.97 per share, for a total transaction of $2,948,500.00. Following the purchase, the director owned 105,480 shares of the company’s stock, valued at $6,220,155.60. This represents a 90.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 75,079 shares of company stock valued at $4,449,887. 0.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NKE. Main Street Financial Solutions LLC raised its position in NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after purchasing an additional 139 shares during the period. St. Clair Advisors LLC boosted its holdings in shares of NIKE by 0.9% in the 3rd quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock worth $1,061,000 after purchasing an additional 140 shares during the period. Spirepoint Private Client LLC increased its position in shares of NIKE by 0.4% during the 3rd quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker’s stock valued at $2,520,000 after purchasing an additional 153 shares during the last quarter. Diligent Investors LLC raised its holdings in NIKE by 4.3% during the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after buying an additional 153 shares during the period. Finally, Evelyn Partners Investment Management Europe Ltd lifted its position in NIKE by 18.5% in the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 997 shares of the footwear maker’s stock worth $71,000 after buying an additional 156 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).