NIKE's (NKE) Market Perform Rating Reaffirmed at Telsey Advisory Group

NIKE (NYSE:NKE - Get Free Report)'s stock had its "market perform" rating reissued by analysts at Telsey Advisory Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $70.00 price objective on the footwear maker's stock. Telsey Advisory Group's target price indicates a potential upside of 13.09% from the company's previous close.

NKE has been the topic of several other research reports. The Goldman Sachs Group cut their price target on NIKE from $88.00 to $72.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley reduced their price target on NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. Stifel Nicolaus dropped their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. cut their price objective 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. Finally, Dbs Bank raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $80.26.

NIKE Price Performance

NKE opened at $61.90 on Tuesday. NIKE has a 12-month low of $52.28 and a 12-month high of $98.04. The company has a market cap of $91.55 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $59.56 and a two-hundred day simple moving average of $68.48.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. Research analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stone House Investment Management LLC bought a new stake in shares of NIKE during the first quarter valued at approximately $25,000. Heck Capital Advisors LLC purchased a new position in NIKE during the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA increased its holdings in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after acquiring an additional 210 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in NIKE in the 4th quarter worth $30,000. Finally, Saudi Central Bank purchased a new stake in NIKE in the 1st quarter worth $30,000. 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.

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