Nike (NYSE:NKE) Upgraded to “Buy” by Oppenheimer

Nike (NYSE:NKE) was upgraded by investment analysts at Oppenheimer to a “buy” rating in a report released on Wednesday, January 31st.

A number of other research analysts also recently issued reports on the stock. B. Riley restated a “neutral” rating on shares of Nike in a research report on Wednesday, November 1st. Stifel Nicolaus restated a “buy” rating and set a $74.00 target price on shares of Nike in a research report on Friday, December 22nd. Macquarie set a $72.00 target price on shares of Nike and gave the company a “buy” rating in a research report on Thursday, January 11th. Cowen set a $64.00 price objective on shares of Nike and gave the stock a “hold” rating in a research report on Thursday, January 11th. Finally, Telsey Advisory Group upped their price objective on shares of Nike from $61.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, December 18th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.37.

Nike (NKE) traded up $0.54 during midday trading on Wednesday, reaching $68.50. 439,498 shares of the company’s stock traded hands, compared to its average volume of 8,236,919. The stock has a market capitalization of $107,166.48, a price-to-earnings ratio of 29.59, a P/E/G ratio of 2.98 and a beta of 0.68. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. Nike has a fifty-two week low of $50.35 and a fifty-two week high of $68.83.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share. analysts forecast that Nike will post 2.26 EPS for the current year.

In other Nike news, insider Eric D. Sprunk sold 100,000 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the transaction, the insider now directly owns 227,199 shares of the company’s stock, valued at approximately $15,372,284.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Slusher sold 125,722 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $63.17, for a total transaction of $7,941,858.74. Following the transaction, the executive vice president now directly owns 268,169 shares in the company, valued at $16,940,235.73. The disclosure for this sale can be found here. Insiders sold a total of 932,896 shares of company stock worth $59,594,217 over the last ninety days. Insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NKE. Fiduciary Trust Co. grew its holdings in shares of Nike by 4.9% during the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock worth $13,597,000 after buying an additional 10,840 shares in the last quarter. Sterling Investment Advisors Ltd. grew its holdings in shares of Nike by 651.4% during the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock worth $1,596,000 after buying an additional 23,450 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Nike by 4.3% during the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock worth $5,732,000 after buying an additional 4,030 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Nike by 2.0% during the third quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock worth $8,261,000 after buying an additional 3,189 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew its holdings in Nike by 20.0% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after purchasing an additional 17,285 shares during the period. Hedge funds and other institutional investors own 62.65% of the company’s stock.

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About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Analyst Recommendations for Nike (NYSE:NKE)

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