NIKE (NYSE:NKE) Rating Increased to Strong-Buy at Hsbc Global Res

NIKE (NYSE:NKE - Get Free Report) was upgraded by Hsbc Global Res from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Friday,Zacks.com reports.

NKE has been the topic of a number of other research reports. Williams Trading reduced their target price on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Cfra Research upgraded shares of NIKE to a "moderate buy" rating in a report on Friday, March 21st. JPMorgan Chase & Co. increased their target price on shares of NIKE from $56.00 to $64.00 and gave the stock a "neutral" rating in a research note on Friday. Telsey Advisory Group reiterated a "market perform" rating and set a $70.00 price target on shares of NIKE in a research report on Friday. Finally, Royal Bank Of Canada lowered their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.33.

NIKE Price Performance

Shares of NIKE stock opened at $72.09 on Friday. The firm has a market cap of $106.63 billion, a PE ratio of 33.38, a P/E/G ratio of 2.29 and a beta of 1.21. The business has a 50-day moving average price of $60.63 and a 200 day moving average price of $67.60. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57. NIKE has a twelve month low of $52.28 and a twelve month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.00%. The business had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. During the same period in the prior year, the business earned $0.99 earnings per share. The company's quarterly revenue was down 11.9% compared to the same quarter last year. Sell-side analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On NIKE

Several large investors have recently modified their holdings of NKE. Stone House Investment Management LLC acquired a new position in shares of NIKE in the 1st quarter valued at $25,000. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after acquiring an additional 210 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of NIKE during the fourth quarter valued at approximately $30,000. Finally, Saudi Central Bank acquired a new stake in shares of NIKE during the first quarter valued at approximately $30,000. 64.25% of the stock is owned by institutional investors.

NIKE Company Profile

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.