NIKE’s (NKE) Outperform Rating Reaffirmed at Telsey Advisory Group

NIKE (NYSE:NKE)‘s stock had its “outperform” rating restated by equities research analysts at Telsey Advisory Group in a research note issued to investors on Friday, Benzinga reports. They presently have a $100.00 target price on the footwear maker’s stock. Telsey Advisory Group’s price target indicates a potential upside of 16.08% from the company’s previous close.

Several other research firms have also commented on NKE. Sanford C. Bernstein dropped their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday. Guggenheim cut their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Wells Fargo & Company raised their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group reaffirmed a “neutral” rating and set a $78.00 price target on shares of NIKE in a research report on Friday, June 28th. Finally, HSBC decreased their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.15.

NIKE Trading Up 6.4 %

Shares of NYSE NKE traded up $5.17 during midday trading on Friday, reaching $86.15. 31,391,816 shares of the stock were exchanged, compared to its average volume of 11,393,093. The stock has a 50 day moving average price of $77.84 and a 200-day moving average price of $87.23. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $130.03 billion, a P/E ratio of 23.05, a P/E/G ratio of 2.08 and a beta of 1.02. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 earnings per share. Equities research analysts expect that NIKE will post 3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On NIKE

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares in the last quarter. Capital International Investors lifted its position in NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Legal & General Group Plc increased its position in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of NIKE by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after buying an additional 211,360 shares in the last quarter. Institutional investors and hedge funds 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.