NIKE (NYSE:NKE) Receives "Market Perform" Rating from Telsey Advisory Group

NIKE (NYSE:NKE - Get Free Report)'s stock had its "market perform" rating reiterated by investment analysts at Telsey Advisory Group in a research report issued on Friday,Benzinga reports. They presently have a $70.00 target price on the footwear maker's stock. Telsey Advisory Group's price objective would suggest a potential upside of 11.63% from the stock's previous close.

Several other brokerages also recently issued reports on NKE. Evercore ISI decreased their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday. Williams Trading reduced their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Robert W. Baird cut their price target on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Finally, Bank of America decreased their price objective on shares of NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Sixteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus target price of $78.04.

NIKE Price Performance

Shares of NYSE NKE opened at $62.71 on Friday. The firm has a market capitalization of $92.75 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.23 and a beta of 1.21. The firm's 50-day moving average price is $60.31 and its 200-day moving average price is $67.63. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. NIKE has a 1-year low of $52.28 and a 1-year high of $94.74.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The business's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the firm earned $0.99 earnings per share. Equities research analysts anticipate that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Activity

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.10% of the company's stock.

Institutional Trading of NIKE

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after buying an additional 4,957,494 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Geode Capital Management LLC raised its position in NIKE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after purchasing an additional 347,178 shares during the period. Finally, Capital World Investors lifted its stake in NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

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.

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