NIKE (NYSE:NKE) Receives “Outperform” Rating from Telsey Advisory Group

NIKE (NYSE:NKE)‘s stock had its “outperform” rating reaffirmed by analysts at Telsey Advisory Group in a research report issued on Friday, Benzinga reports. They presently have a $100.00 target price on the footwear maker’s stock. Telsey Advisory Group’s price objective would suggest a potential upside of 16.08% from the company’s previous close.

Other analysts have also issued reports about the stock. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Guggenheim decreased their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Citigroup decreased their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, June 28th. TD Cowen dropped their price objective on shares of NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Finally, Bank of America decreased their target price on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $96.15.

NIKE Price Performance

NIKE stock traded up $5.17 during mid-day trading on Friday, hitting $86.15. The company’s stock had a trading volume of 31,391,816 shares, compared to its average volume of 11,393,093. The stock has a market capitalization of $130.03 billion, a P/E ratio of 23.05, a P/E/G ratio of 2.08 and a beta of 1.02. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39. The stock’s fifty day moving average price is $77.84 and its two-hundred day moving average price is $87.23. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the company posted $0.66 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. Research analysts forecast that NIKE will post 3.06 earnings per share for the current year.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently bought and sold shares of the business. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. True Wealth Design LLC boosted its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Core Wealth Advisors Inc. boosted its stake in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in NIKE in the fourth quarter valued at $33,000. Finally, Gold Investment Management Ltd. acquired a new position in NIKE during the fourth quarter worth $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.