Jefferies Financial Group Reaffirms "Buy" Rating for NIKE (NYSE:NKE)

Key Points

• Jefferies Financial Group has reaffirmed a "Buy" rating for NIKE (NYSE:NKE) with a price objective of $115.00, suggesting a potential upside of 65.32% from the current stock price.
• Various analysts have adjusted their ratings for NIKE, with a consensus rating of "Moderate Buy" and an average target price of $79.62.
• NIKE's stock recently traded at $69.56 and reported earnings of $0.14 per share for the last quarter, exceeding analysts' expectations of $0.12.

NIKE (NYSE:NKE - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Jefferies Financial Group in a report issued on Monday,MarketScreener Latest Ratings reports. They currently have a $115.00 price objective on the footwear maker's stock. Jefferies Financial Group's price objective would indicate a potential upside of 65.32% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. Zacks Research raised shares of NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Wall Street Zen raised NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Friday, June 27th. Finally, DZ Bank downgraded shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price target on the stock. in a report on Thursday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $79.62.

NIKE Stock Up 0.4%

NIKE stock traded up $0.25 during trading on Monday, hitting $69.56. 11,861,759 shares of the company were exchanged, compared to its average volume of 16,047,245. The company has a market capitalization of $102.74 billion, a P/E ratio of 32.21, a PEG ratio of 2.53 and a beta of 1.24. The business's 50 day moving average is $74.99 and its 200 day moving average is $67.26. NIKE has a 52 week low of $52.28 and a 52 week high of $89.75. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 EPS. Analysts predict that NIKE will post 2.05 earnings per share for the current year.

Insider Activity

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On NIKE

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mitchell Mcleod Pugh & Williams Inc. grew its stake in NIKE by 1.0% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker's stock valued at $1,007,000 after acquiring an additional 134 shares in the last quarter. Main Street Financial Solutions LLC boosted its holdings in NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker's stock valued at $244,000 after purchasing an additional 139 shares during the period. Caldwell Sutter Capital Inc. grew its position in shares of NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock valued at $170,000 after purchasing an additional 142 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in shares of NIKE by 10.1% in the second quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker's stock worth $120,000 after purchasing an additional 145 shares during the period. Finally, Westmount Partners LLC increased its holdings in shares of NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock worth $367,000 after purchasing an additional 146 shares during the period. 64.25% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.