NIKE (NYSE:NKE) Stock Rating Upgraded by Guggenheim

NIKE (NYSE:NKE) was upgraded by Guggenheim to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Telsey Advisory Group restated a “market perform” rating and issued a $75.00 price objective on shares of NIKE in a research note on Wednesday. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Citigroup lowered their price objective on shares of NIKE from $74.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their target price for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.10.

NIKE Trading Up 3.9%

NYSE:NKE opened at $65.79 on Wednesday. NIKE has a 52 week low of $52.28 and a 52 week high of $82.44. The firm has a 50-day moving average price of $65.63 and a two-hundred day moving average price of $69.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm has a market cap of $97.26 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 2.23 and a beta of 1.29.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 EPS. On average, equities analysts expect that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Activity at NIKE

In other NIKE news, Director Jorgen Vig Knudstorp acquired 16,150 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $62.09 per share, with a total value of $1,002,753.50. Following the acquisition, the director owned 21,388 shares in the company, valued at approximately $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently made changes to their positions in NKE. Mascoma Wealth Management LLC bought a new stake in shares of NIKE during the second quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC boosted its position in shares of NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares during the period. Saudi Central Bank purchased a new position in NIKE during the first quarter valued at approximately $30,000. Matrix Trust Co grew its stake in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in NIKE during the 2nd quarter worth approximately $31,000. 64.25% of the stock is currently 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.