Nike (NKE) Rating Reiterated by JPMorgan Chase

Nike (NYSE:NKE)‘s stock had its “neutral” rating restated by research analysts at JPMorgan Chase in a research report issued to clients and investors on Friday. They presently have a $70.00 target price on the footwear maker’s stock. JPMorgan Chase’s price target points to a potential downside of 1.85% from the stock’s current price.

Several other research firms have also weighed in on NKE. Citigroup reissued a “buy” rating and set a $78.00 price objective (up from $74.00) on shares of Nike in a research note on Wednesday, January 31st. Guggenheim reissued a “buy” rating and set a $78.00 price objective on shares of Nike in a research note on Friday, March 23rd. Wedbush raised Nike from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a research note on Friday, January 19th. Barclays set a $75.00 price objective on Nike and gave the stock a “buy” rating in a research note on Friday, March 23rd. Finally, Credit Suisse Group initiated coverage on Nike in a research note on Monday, March 12th. They set an “outperform” rating and a $78.00 price objective for the company. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $69.30.

NYSE NKE traded up $0.38 on Friday, reaching $71.32. 5,683,030 shares of the stock traded hands, compared to its average volume of 6,232,912. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.73 and a current ratio of 2.66. The firm has a market cap of $115.42 billion, a P/E ratio of 28.41, a PEG ratio of 3.40 and a beta of 0.64. Nike has a 12 month low of $50.35 and a 12 month high of $71.60.



Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.15. The firm had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.85 billion. Nike had a return on equity of 33.38% and a net margin of 5.11%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. research analysts predict that Nike will post 2.33 earnings per share for the current fiscal year.

In related news, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $70.00, for a total transaction of $3,500,000.00. Following the completion of the sale, the insider now directly owns 191,959 shares in the company, valued at $13,437,130. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the transaction, the chairman now owns 1,637,736 shares in the company, valued at $114,641,520. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lido Advisors LLC raised its holdings in Nike by 14.4% during the first quarter. Lido Advisors LLC now owns 5,860 shares of the footwear maker’s stock valued at $389,000 after buying an additional 737 shares in the last quarter. Sather Financial Group Inc raised its holdings in Nike by 0.4% during the first quarter. Sather Financial Group Inc now owns 174,859 shares of the footwear maker’s stock valued at $11,618,000 after buying an additional 747 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Nike by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 39,698 shares of the footwear maker’s stock valued at $2,483,000 after buying an additional 778 shares in the last quarter. Stillwater Investment Management LLC raised its holdings in Nike by 2.1% during the fourth quarter. Stillwater Investment Management LLC now owns 38,305 shares of the footwear maker’s stock valued at $2,396,000 after buying an additional 800 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in Nike by 1.0% during the first quarter. Coldstream Capital Management Inc. now owns 77,308 shares of the footwear maker’s stock valued at $5,136,000 after buying an additional 802 shares in the last quarter. Institutional investors own 65.76% of the company’s stock.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

Analyst Recommendations for Nike (NYSE:NKE)

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