Jefferies Financial Group Reiterates Neutral Rating for Nike (NYSE:NKE)

Nike (NYSE:NKE)‘s stock had its “neutral” rating reiterated by research analysts at Jefferies Financial Group in a research report issued on Wednesday, AnalystRatings.com reports. They currently have a $117.00 price objective on the footwear maker’s stock. Jefferies Financial Group’s price objective suggests a potential downside of 8.33% from the stock’s previous close.

Other analysts also recently issued reports about the company. Raymond James upped their target price on Nike from $115.00 to $121.00 and gave the company an “outperform” rating in a research report on Friday, September 18th. Wells Fargo & Company increased their price objective on shares of Nike from $99.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Stifel Nicolaus boosted their target price on shares of Nike from $140.00 to $154.00 and gave the company a “buy” rating in a research report on Wednesday. BMO Capital Markets increased their price target on shares of Nike from $100.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, UBS Group boosted their price objective on shares of Nike from $127.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $130.76.

NKE stock traded up $10.76 during trading hours on Wednesday, hitting $127.63. 1,244,390 shares of the stock were exchanged, compared to its average volume of 7,803,447. Nike has a 12 month low of $60.00 and a 12 month high of $120.48. The company has a current ratio of 2.48, a quick ratio of 1.59 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $182.30 billion, a P/E ratio of 81.43, a P/E/G ratio of 3.15 and a beta of 0.83. The company has a 50-day simple moving average of $109.88 and a two-hundred day simple moving average of $95.56.

Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 22nd. The footwear maker reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.49. Nike had a net margin of 6.79% and a return on equity of 32.95%. The firm had revenue of $10.59 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts predict that Nike will post 2.32 earnings per share for the current year.

In related news, COO Andrew Campion sold 56,313 shares of Nike stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $98.56, for a total value of $5,550,209.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Monique S. Matheson sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $108.00, for a total value of $918,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 241,056 shares of company stock valued at $26,663,725. Insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of NKE. Public Employees Retirement Association of Colorado boosted its position in Nike by 14.0% during the first quarter. Public Employees Retirement Association of Colorado now owns 2,101,180 shares of the footwear maker’s stock valued at $173,852,000 after acquiring an additional 258,577 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Nike by 26.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,581,584 shares of the footwear maker’s stock worth $130,860,000 after acquiring an additional 326,628 shares in the last quarter. South Dakota Investment Council acquired a new position in shares of Nike in the 1st quarter valued at about $248,000. GW&K Investment Management LLC boosted its position in shares of Nike by 118.6% during the 1st quarter. GW&K Investment Management LLC now owns 23,392 shares of the footwear maker’s stock valued at $1,935,000 after purchasing an additional 12,690 shares in the last quarter. Finally, First Foundation Advisors grew its stake in Nike by 9.3% during the first quarter. First Foundation Advisors now owns 10,575 shares of the footwear maker’s stock worth $875,000 after purchasing an additional 904 shares during the period. Institutional investors own 64.20% of the company’s stock.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Analyst Recommendations for Nike (NYSE:NKE)

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