NIKE (NYSE:NKE) Upgraded to Hold (C-) at Weiss Ratings

Key Points

• NIKE has been upgraded from a "sell (d+)" to a "hold (C-)" rating by Weiss Ratings, indicating a shift in analysts' outlook on the company.
• Shares of NIKE traded down to $68.53, with a recent average price target set at $81.57 based on a consensus rating of "Moderate Buy" from various analysts.
• In insider trading news, Chairman Mark G. Parker sold over 86,000 shares, reducing his stake in the company by 10.36%, while insiders collectively sold over $14 million in NIKE stock last quarter.

NIKE (NYSE:NKE - Get Free Report) was upgraded by research analysts at Weiss Ratings from a "sell (d+)" rating to a "hold (c-)" rating in a report issued on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the company. Citigroup raised NIKE from a "neutral" rating to a "positive" rating in a report on Friday, September 19th. HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a report on Friday, June 27th. Evercore ISI dropped their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. Robert W. Baird upped their price target on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Finally, Zacks Research raised NIKE from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $81.57.

NIKE Stock Performance

Shares of NYSE NKE traded down $0.56 during midday trading on Wednesday, hitting $68.53. 2,834,160 shares of the company's stock were exchanged, compared to its average volume of 16,404,775. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The stock's 50 day moving average price is $74.12 and its 200-day moving average price is $67.29. The firm has a market cap of $101.22 billion, a P/E ratio of 35.36, a PEG ratio of 2.52 and a beta of 1.29. NIKE has a twelve month low of $52.28 and a twelve month high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. Equities research analysts anticipate that NIKE will post 2.05 EPS for the current year.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,378 shares of company stock valued at $14,794,264 over the last quarter. 0.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of 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 buying an additional 134 shares during the last quarter. Main Street Financial Solutions LLC raised its position in shares of NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker's stock valued at $244,000 after buying an additional 139 shares during the last quarter. St. Clair Advisors LLC raised its position in shares of NIKE by 0.9% during the third quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker's stock valued at $1,061,000 after buying an additional 140 shares during the last quarter. Caldwell Sutter Capital Inc. raised its position in shares of NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock valued at $170,000 after buying an additional 142 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its position in shares of NIKE by 10.1% during the second quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker's stock valued at $120,000 after buying an additional 145 shares during the last quarter. Institutional investors and hedge funds 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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