NIKE (NYSE:NKE) Given Buy Rating at Guggenheim

NIKE (NYSE:NKE)‘s stock had its “buy” rating reiterated by research analysts at Guggenheim in a note issued to investors on Wednesday,Benzinga reports. They presently have a $110.00 price objective on the footwear maker’s stock. Guggenheim’s price objective suggests a potential upside of 54.19% from the company’s current price.

A number of other research firms have also recently weighed in on NKE. Robert W. Baird dropped their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Stifel Nicolaus dropped their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Morgan Stanley dropped their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, UBS Group reiterated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average target price of $88.62.

NIKE Stock Down 0.0 %

NKE stock traded down $0.00 during trading on Wednesday, reaching $71.34. The stock had a trading volume of 1,942,901 shares, compared to its average volume of 12,684,461. NIKE has a one year low of $68.62 and a one year high of $107.34. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $74.80 and its two-hundred day moving average is $78.08. The company has a market capitalization of $105.52 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities research analysts forecast that NIKE will post 2.05 EPS for the current year.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

Institutional investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC bought a new position in shares of NIKE in the 4th quarter worth $28,000. Caitlin John LLC increased its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE in the 3rd quarter worth $30,000. Roxbury Financial LLC bought a new position in shares of NIKE during the 4th quarter valued at $30,000. Finally, Hopwood Financial Services Inc. bought a new position in shares of NIKE during the 4th quarter valued at $30,000. Institutional investors own 64.25% of the company’s stock.

About NIKE

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.