Nike (NYSE:NKE) Stock Rating Lowered by Vetr

Nike (NYSE:NKE) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, November 17th. They currently have a $58.81 target price on the footwear maker’s stock. Vetr‘s price objective points to a potential downside of 1.52% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. B. Riley reiterated a “neutral” rating on shares of Nike in a research report on Wednesday, November 1st. Guggenheim restated a “buy” rating and issued a $70.00 price target on shares of Nike in a research report on Monday, July 24th. FBR & Co restated a “hold” rating and issued a $53.00 price target on shares of Nike in a research report on Thursday, September 14th. Susquehanna Bancshares restated a “neutral” rating and issued a $64.00 price target on shares of Nike in a research report on Tuesday, September 19th. Finally, Raymond James Financial dropped their price target on shares of Nike from $71.00 to $67.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $59.01.

Nike (NYSE NKE) traded down $0.70 during trading hours on Friday, reaching $59.72. 7,862,151 shares of the company were exchanged, compared to its average volume of 9,579,048. Nike has a 1-year low of $50.35 and a 1-year high of $61.21. The company has a market capitalization of $98,054.16, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29.

Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same period last year, the firm earned $0.73 earnings per share. Nike’s revenue for the quarter was up .1% compared to the same quarter last year. analysts anticipate that Nike will post 2.28 EPS for the current fiscal year.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was 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 in the company, valued at $90,124,612.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the transaction, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Several large investors have recently modified their holdings of NKE. Shelton Capital Management increased its position in shares of Nike by 3.3% during the 3rd quarter. Shelton Capital Management now owns 31,977 shares of the footwear maker’s stock valued at $1,658,000 after purchasing an additional 1,009 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Nike by 51.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,220 shares of the footwear maker’s stock worth $478,000 after buying an additional 3,134 shares during the period. Institutional & Family Asset Management LLC lifted its holdings in shares of Nike by 12.0% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 14,984 shares of the footwear maker’s stock worth $777,000 after buying an additional 1,606 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Nike during the 3rd quarter worth $1,307,000. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Nike by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 916,839 shares of the footwear maker’s stock worth $47,538,000 after purchasing an additional 3,395 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.

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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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