Jefferies Financial Group Reiterates “Buy” Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Financial Group in a research report issued to clients and investors on Friday,MarketScreener Latest Ratings reports. They currently have a $115.00 price target on the footwear maker’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 70.40% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Telsey Advisory Group restated a “market perform” rating and set a $75.00 target price on shares of NIKE in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $85.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.10.

NIKE Price Performance

Shares of NYSE:NKE opened at $67.49 on Friday. NIKE has a 1-year low of $52.28 and a 1-year high of $82.44. The firm has a market capitalization of $99.76 billion, a PE ratio of 34.61, a PEG ratio of 2.37 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $65.40 and its 200-day moving average is $69.32.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. Sell-side analysts predict that NIKE will post 2.05 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp acquired 16,150 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was acquired at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the transaction, the director owned 21,388 shares in the company, valued at approximately $1,327,980.92. The trade was a 308.32% increase in their position. The SEC filing for this purchase provides additional information. 0.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mascoma Wealth Management LLC purchased a new position in NIKE during the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC grew its stake in shares of NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares in the last quarter. Saudi Central Bank purchased a new stake in NIKE during the 1st quarter worth about $30,000. Matrix Trust Co raised its holdings in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of NIKE during the 2nd quarter worth $31,000. Institutional investors own 64.25% of the company’s stock.

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.