Nike, Inc. (NKE) Cut to Hold at Vetr Inc.

Vetr cut shares of Nike, Inc. (NYSE:NKE) from a buy rating to a hold rating in a report released on Thursday, October 26th. The brokerage currently has $57.75 price objective on the footwear maker’s stock.

Other equities research analysts have also issued reports about the company. UBS AG set a $64.00 price objective on Nike and gave the stock a buy rating in a research note on Monday, July 3rd. FBR & Co set a $53.00 price objective on Nike and gave the stock a hold rating in a research note on Saturday, July 1st. Wells Fargo & Company set a $56.00 price objective on Nike and gave the stock a hold rating in a research note on Saturday, July 1st. Piper Jaffray Companies set a $50.00 price objective on Nike and gave the stock a hold rating in a research note on Saturday, July 1st. Finally, Canaccord Genuity set a $51.00 price target on Nike and gave the stock a hold rating in a research note on Saturday, July 1st. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty have given a buy rating to the stock. Nike has a consensus rating of Hold and an average price target of $58.93.

Shares of Nike (NKE) traded down $0.04 on Thursday, reaching $56.09. 7,535,700 shares of the company’s stock were exchanged, compared to its average volume of 9,636,238. The stock has a market cap of $91,577.05, a price-to-earnings ratio of 23.89, a PEG ratio of 2.62 and a beta of 0.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. Nike has a 1-year low of $49.75 and a 1-year high of $60.53.

Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. research analysts expect that Nike will post 2.29 earnings per share for the current fiscal year.

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In other Nike news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the transaction, the director now directly owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Asset Planning Services Ltd. increased its stake in shares of Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares in the last quarter. Stearns Financial Services Group increased its stake in shares of Nike by 0.4% during the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after purchasing an additional 17 shares in the last quarter. Accredited Investors Inc. increased its stake in shares of Nike by 0.5% during the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after purchasing an additional 19 shares in the last quarter. Montecito Bank & Trust increased its stake in shares of Nike by 0.3% during the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after purchasing an additional 24 shares in the last quarter. Finally, Smith Shellnut Wilson LLC ADV increased its stake in shares of Nike by 0.3% during the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after purchasing an additional 41 shares in the last quarter. 62.57% of the stock is owned by institutional investors and hedge funds.

Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Nike (NYSE:NKE)

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