NIKE (NYSE:NKE) Earns “Buy” Rating from Needham & Company LLC

NIKE (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They currently have a $84.00 price target on the footwear maker’s stock. Needham & Company LLC’s price target would suggest a potential upside of 9.18% from the company’s current price.

NKE has been the subject of a number of other research reports. Evercore ISI reduced their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Guggenheim reduced their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Sanford C. Bernstein lowered their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. UBS Group dropped their price target on shares of NIKE from $82.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE Stock Down 0.2 %

NKE stock opened at $76.94 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $78.07 and its 200 day simple moving average is $80.55. The stock has a market cap of $115.36 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.30.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS 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 analyst estimates of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. As a group, sell-side analysts predict that NIKE will post 2.72 EPS for the current year.

Institutional Trading of NIKE

Several large investors have recently added to or reduced their stakes in NKE. Garrison Point Advisors LLC grew its holdings in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after buying an additional 126 shares in the last quarter. Stephens Consulting LLC grew its stake in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after acquiring an additional 128 shares in the last quarter. PSI Advisors LLC increased its stake in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares during the period. Chapin Davis Inc. lifted its position in NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after buying an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC boosted its stake in shares of NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after buying an additional 133 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

About NIKE

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.