NIKE (NYSE:NKE) Receives Buy Rating from Bank of America

NIKE (NYSE:NKE)‘s stock had its “buy” rating reiterated by analysts at Bank of America in a report issued on Monday, Benzinga reports. They presently have a $104.00 price target on the footwear maker’s stock. Bank of America‘s price target indicates a potential upside of 18.90% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wedbush decreased their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 price target on shares of NIKE in a report on Friday, September 20th. Wells Fargo & Company boosted their price objective on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Royal Bank of Canada lowered their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.04.

NIKE Stock Up 1.5 %

NKE stock opened at $87.47 on Monday. The company has a 50 day moving average price of $78.70 and a two-hundred day moving average price of $86.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market capitalization of $132.02 billion, a P/E ratio of 23.45, a PEG ratio of 2.08 and a beta of 1.02. NIKE has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $12.86 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, sell-side analysts expect that NIKE will post 3.06 EPS for the current year.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on 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 purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

A number of institutional investors and hedge funds have recently modified their holdings of NKE. 9258 Wealth Management LLC boosted its stake in NIKE by 23.9% in the fourth quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after acquiring an additional 842 shares during the period. Gryphon Financial Partners LLC boosted its position in NIKE by 34.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock valued at $1,259,000 after purchasing an additional 2,981 shares during the period. TrinityPoint Wealth LLC grew its stake in NIKE by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock worth $2,341,000 after buying an additional 166 shares during the last quarter. Parallel Advisors LLC increased its position in NIKE by 3.9% in the fourth quarter. Parallel Advisors LLC now owns 96,312 shares of the footwear maker’s stock worth $10,457,000 after buying an additional 3,597 shares during the period. Finally, Mitchell Sinkler & Starr PA lifted its stake in NIKE by 32.7% in the fourth quarter. Mitchell Sinkler & Starr PA now owns 55,819 shares of the footwear maker’s stock valued at $6,060,000 after buying an additional 13,765 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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.