Nike (NKE) Earns Buy Rating from Analysts at Buckingham Research

Equities research analysts at Buckingham Research started coverage on shares of Nike (NYSE:NKE) in a research note issued on Sunday. The firm set a “buy” rating and a $72.00 price target on the footwear maker’s stock. Buckingham Research’s price target would suggest a potential upside of 12.59% from the company’s current price.

NKE has been the subject of several other reports. Goldman Sachs Group set a $59.00 price objective on Nike and gave the company a “neutral” rating in a report on Thursday, December 14th. HSBC cut Nike from a “buy” rating to a “hold” rating and lifted their price objective for the company from $58.95 to $62.00 in a report on Tuesday, November 28th. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. B. Riley lifted their price objective on Nike from $53.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, December 22nd. Finally, Citigroup reiterated a “buy” rating and issued a $65.00 price target (down previously from $67.00) on shares of Nike in a research note on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $64.06.

Nike (NKE) traded up $0.51 during trading hours on Friday, reaching $63.95. The company had a trading volume of 1,466,195 shares, compared to its average volume of 6,127,300. The firm has a market cap of $104,070.00, a PE ratio of 27.68, a P/E/G ratio of 2.88 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. Nike has a 1-year low of $50.35 and a 1-year high of $65.18.

Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The business had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $0.50 EPS. equities research analysts predict that Nike will post 2.25 earnings per share for the current fiscal year.

In other Nike news, EVP John F. Slusher sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $63.09, for a total value of $6,309,000.00. Following the sale, the executive vice president now owns 268,169 shares in the company, valued at approximately $16,918,782.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares in the company, valued at approximately $1,441,376. The disclosure for this sale can be found here. Insiders sold a total of 967,896 shares of company stock worth $60,257,267 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Several large investors have recently made changes to their positions in NKE. Fiduciary Trust Co. grew its holdings in shares of Nike by 4.9% in the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after acquiring an additional 10,840 shares in the last quarter. Sterling Investment Advisors Ltd. grew its holdings in shares of Nike by 651.4% in the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after acquiring an additional 23,450 shares in the last quarter. Royal Bank of Scotland Group PLC grew its holdings in shares of Nike by 6.2% in the first quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock valued at $11,582,000 after acquiring an additional 12,201 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Nike by 4.3% in the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after acquiring an additional 4,030 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew its holdings in shares of 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 acquiring an additional 17,285 shares in the last quarter. 62.67% of the stock is currently owned by institutional investors.

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Nike Company Profile

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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