Robert W. Baird Reaffirms “Buy” Rating for Nike (NYSE:NKE)

Nike (NYSE:NKE)‘s stock had its “buy” rating reissued by Robert W. Baird in a report released on Friday, November 17th. They presently have a $65.00 price target on the footwear maker’s stock. Robert W. Baird’s target price suggests a potential upside of 8.84% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Jefferies Group lowered Nike to a “buy” rating in a research note on Tuesday, August 29th. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 target price on the stock. in a research report on Monday, September 4th. Goldman Sachs Group downgraded Nike from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $52.30 to $54.00 in a report on Thursday, October 19th. Telsey Advisory Group decreased their price objective on Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $66.00 target price on shares of Nike in a research note on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $59.01.

Shares of Nike (NYSE:NKE) traded down $0.70 during trading on Friday, hitting $59.72. The stock had a trading volume of 7,862,151 shares, compared to its average volume of 9,579,048. 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 has a 1-year low of $50.35 and a 1-year high of $61.21. The firm has a market capitalization of $98,054.16, a PE ratio of 25.57, a PEG ratio of 2.82 and a beta of 0.64.

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

In other Nike news, 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 value of $855,200.00. Following the completion of the sale, the director now directly owns 25,660 shares of the company’s stock, valued at $1,371,527. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $7,429,050.00. Following the completion of the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Asset Planning Services Ltd. raised its position in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the period. Stearns Financial Services Group raised its position in shares of Nike by 0.4% in the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after purchasing an additional 17 shares during the period. Accredited Investors Inc. raised its position in shares of Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after purchasing an additional 19 shares during the period. Smith Shellnut Wilson LLC ADV raised its position in shares of Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after purchasing an additional 41 shares during the period. Finally, Buckingham Asset Management LLC raised its position in shares of Nike by 0.7% in the second quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock valued at $401,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds 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.

Analyst Recommendations for Nike (NYSE:NKE)

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