NIKE (NYSE:NKE) Receives “Market Perform” Rating from Telsey Advisory Group

NIKE (NYSE:NKE)‘s stock had its “market perform” rating reissued by investment analysts at Telsey Advisory Group in a research report issued on Friday,Benzinga reports. They currently have a $70.00 target price on the footwear maker’s stock. Telsey Advisory Group’s price target indicates a potential upside of 11.63% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. BMO Capital Markets lowered their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Citigroup reduced their target price on NIKE from $72.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. China Renaissance initiated coverage on NIKE in a research note on Wednesday, March 19th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group reduced 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. Sixteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.04.

NIKE Stock Performance

NIKE stock opened at $62.71 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. The firm has a market cap of $92.75 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.23 and a beta of 1.21. NIKE has a 1-year low of $52.28 and a 1-year high of $94.74. The firm has a 50-day moving average of $60.31 and a 200-day moving average of $67.63.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period last year, the company earned $0.99 EPS. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. Sell-side analysts expect that NIKE will post 2.05 EPS for the current year.

Insider Activity

In related news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently modified their holdings of the company. Stone House Investment Management LLC bought a new stake in shares of NIKE during the 1st quarter valued at $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 grew its holdings in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares during the period. Hopwood Financial Services Inc. purchased a new stake in NIKE in the fourth quarter worth about $30,000. Finally, Saudi Central Bank purchased a new stake in NIKE in the first quarter worth about $30,000. 64.25% of the stock is owned by institutional investors.

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.