Telsey Advisory Group Reaffirms Market Perform Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE)‘s stock had its “market perform” rating reaffirmed by research analysts at Telsey Advisory Group in a report released on Thursday,Benzinga reports. They presently have a $80.00 price objective on the footwear maker’s stock. Telsey Advisory Group’s target price suggests a potential upside of 11.49% from the company’s previous close.

Other research analysts also recently issued reports about the company. Barclays cut their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Bank of America reduced their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. UBS Group restated a “neutral” rating and set a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Robert W. Baird dropped their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, Morgan Stanley decreased their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.77.

NIKE Stock Performance

Shares of NIKE stock traded down $2.82 on Thursday, hitting $71.75. 16,010,643 shares of the company’s stock were exchanged, compared to its average volume of 12,521,900. NIKE has a 1 year low of $70.32 and a 1 year high of $107.43. The company has a 50-day simple moving average of $75.45 and a 200-day simple moving average of $78.10. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market capitalization of $106.13 billion, a PE ratio of 22.15, a PEG ratio of 2.50 and a beta of 1.01.

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

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of institutional investors and hedge funds have recently modified their holdings of NKE. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE in the third quarter worth $30,000. Caitlin John LLC increased its stake 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 buying an additional 200 shares during the period. Heck Capital Advisors LLC bought a new stake in NIKE during the 4th quarter valued at about $28,000. Roxbury Financial LLC purchased a new stake in NIKE in the 4th quarter valued at about $30,000. Finally, VitalStone Financial LLC boosted its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. 64.25% 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, 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.