Wedbush Reaffirms "Outperform" Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Wedbush in a research note issued on Tuesday, Benzinga reports. They currently have a $115.00 price target on the footwear maker's stock. Wedbush's price target would suggest a potential upside of 24.65% from the company's current price.

NKE has been the topic of several other reports. Robert W. Baird cut their target price on NIKE from $140.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, March 22nd. TheStreet downgraded NIKE from a "b" rating to a "c+" rating in a research note on Tuesday, January 9th. Stifel Nicolaus cut their target price on NIKE from $129.00 to $117.00 and set a "buy" rating on the stock in a research note on Friday, March 22nd. UBS Group lowered their price target on NIKE from $138.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, March 22nd. Finally, Williams Trading reaffirmed a "sell" rating and issued a $85.00 target price (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $116.26.

NIKE Stock Down 1.9 %

Shares of NKE stock traded down $1.80 during midday trading on Tuesday, reaching $92.26. 6,471,496 shares of the stock were exchanged, compared to its average volume of 9,340,923. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The firm has a market cap of $139.25 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. The company's 50 day moving average is $96.55 and its two-hundred day moving average is $103.28. NIKE has a 1 year low of $88.66 and a 1 year high of $128.68.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. On average, equities research analysts predict that NIKE will post 3.73 EPS for the current year.

Institutional Investors Weigh In On NIKE

Large investors have recently added to or reduced their stakes in the stock. Iron Horse Wealth Management LLC grew its stake in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker's stock valued at $28,000 after buying an additional 140 shares during the last quarter. Annapolis Financial Services LLC grew its stake in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker's stock valued at $25,000 after buying an additional 220 shares during the last quarter. Planned Solutions Inc. bought a new position in shares of NIKE during the fourth quarter valued at approximately $29,000. True Wealth Design LLC grew its stake in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker's stock valued at $32,000 after buying an additional 150 shares during the last quarter. Finally, Core Wealth Advisors Inc. grew its stake in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker's stock valued at $33,000 after buying an additional 241 shares during the last quarter. 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.