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

Key Points

• Telsey Advisory Group reiterated NIKE's "market perform" rating with a price target of $75.00, indicating a potential upside of 7.57% from the previous close.
• NIKE's recent quarterly earnings surpassed expectations, reporting $0.49 per share against an estimate of $0.27, with revenues of $11.72 billion.
• Analyst ratings show a consensus of "Moderate Buy" with three analysts recommending a Strong Buy, while institutional investors hold 64.25% of the company's shares.

NIKE (NYSE:NKE - Get Free Report)'s stock had its "market perform" rating reiterated by stock analysts at Telsey Advisory Group in a research note issued on Wednesday,Benzinga reports. They presently have a $75.00 price target on the footwear maker's stock. Telsey Advisory Group's target price indicates a potential upside of 7.57% from the stock's previous close.

Several other equities analysts have also commented on the company. DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price for the company. in a research note on Thursday, July 10th. Barclays upped their price objective on shares of NIKE from $64.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, September 18th. TD Cowen raised shares of NIKE from a "hold" rating to a "buy" rating and upped their price target for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Zacks Research upgraded NIKE from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, Argus raised shares of NIKE to a "buy" rating in a research report on Sunday, July 6th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $79.77.

NIKE Trading Up 0.2%

Shares of NKE stock opened at $69.72 on Wednesday. The firm has a 50-day moving average price of $74.78 and a 200 day moving average price of $67.27. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $102.97 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 2.54 and a beta of 1.24. NIKE has a twelve month low of $52.28 and a twelve month high of $89.64.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 earnings per share. Research analysts forecast that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the sale, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NIKE

Several hedge funds and other institutional investors have recently modified their holdings of NKE. Stone House Investment Management LLC acquired a new position in NIKE during the 1st quarter valued at about $25,000. Mascoma Wealth Management LLC acquired a new position in NIKE during the 2nd quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC boosted its stake in NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock valued at $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank acquired a new position in shares of NIKE during the first quarter worth approximately $30,000. Finally, Matrix Trust Co boosted its position in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares during the period. 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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