NIKE (NYSE:NKE) Raised to “Strong-Buy” at Dbs Bank

NIKE (NYSE:NKE) was upgraded by equities research analysts at Dbs Bank from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

NKE has been the topic of several other reports. BMO Capital Markets raised their target price on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Evercore ISI cut their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Citigroup cut NIKE from a “buy” rating to a “neutral” rating and cut their target price for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Barclays cut their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Guggenheim reissued a “buy” rating and issued a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE Stock Down 0.1 %

Shares of NYSE:NKE opened at $77.74 on Wednesday. The stock’s 50-day moving average price is $74.72 and its 200-day moving average price is $78.25. NIKE has a 12-month low of $68.62 and a 12-month high of $102.49. The stock has a market capitalization of $114.99 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities analysts anticipate that NIKE will post 2.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On NIKE

Hedge funds have recently added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America purchased a new position in NIKE in the 3rd quarter worth approximately $30,000. Caitlin John LLC grew its position in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC bought a new stake in NIKE in the 4th quarter worth approximately $28,000. Roxbury Financial LLC bought a new stake in NIKE in the 4th quarter worth approximately $30,000. Finally, LFA Lugano Financial Advisors SA grew its position in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Company Profile

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.