Nike (NYSE:NKE)‘s stock had its “neutral” rating reaffirmed by equities researchers at Jefferies Financial Group in a research note issued on Friday, Borsen Zeitung reports. They presently have a $97.00 price target on the footwear maker’s stock. Jefferies Financial Group’s price target indicates a potential downside of 2.96% from the stock’s current price. Jefferies Financial Group also issued estimates for Nike’s Q3 2020 earnings at $0.68 EPS and FY2020 earnings at $3.00 EPS.
NKE has been the subject of several other reports. Credit Suisse Group set a $112.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Friday. Daiwa Capital Markets set a $91.00 price target on shares of Nike and gave the company a “hold” rating in a report on Friday, September 27th. Argus raised their price target on shares of Nike from $94.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. They noted that the move was a valuation call. Oppenheimer boosted their price objective on shares of Nike from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, ValuEngine downgraded shares of Nike from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Nike presently has an average rating of “Buy” and a consensus target price of $104.02.
Shares of NKE stock opened at $99.96 on Friday. Nike has a 12 month low of $68.08 and a 12 month high of $101.40. The company has a quick ratio of 1.29, a current ratio of 2.01 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $93.85 and its two-hundred day moving average is $88.49. The company has a market cap of $157.90 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 2.60 and a beta of 0.83.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.12. The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.09 billion. Nike had a net margin of 11.21% and a return on equity of 50.42%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, equities analysts expect that Nike will post 3.01 EPS for the current fiscal year.
In other Nike news, CEO Mark G. Parker sold 165,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $93.55, for a total transaction of $15,435,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,046,040 shares in the company, valued at $191,407,042. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Campion sold 122,874 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $91.99, for a total value of $11,303,179.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 592,374 shares of company stock valued at $54,907,589. Corporate insiders own 3.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Nike by 1.4% in the second quarter. Vanguard Group Inc. now owns 105,374,269 shares of the footwear maker’s stock valued at $8,846,169,000 after buying an additional 1,469,583 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Nike by 2.2% during the second quarter. BlackRock Inc. now owns 87,672,220 shares of the footwear maker’s stock worth $7,360,079,000 after buying an additional 1,883,150 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Nike by 13.6% during the second quarter. Jennison Associates LLC now owns 23,510,331 shares of the footwear maker’s stock worth $1,973,692,000 after buying an additional 2,809,878 shares in the last quarter. Northern Trust Corp raised its stake in shares of Nike by 0.4% in the second quarter. Northern Trust Corp now owns 21,011,376 shares of the footwear maker’s stock valued at $1,763,905,000 after acquiring an additional 73,514 shares during the last quarter. Finally, Edgewood Management LLC raised its stake in shares of Nike by 1.1% in the second quarter. Edgewood Management LLC now owns 16,990,039 shares of the footwear maker’s stock valued at $1,426,314,000 after acquiring an additional 183,581 shares during the last quarter. 65.09% of the stock is owned by institutional investors.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.