NIKE (NYSE:NKE) Rating Reiterated by Bank of America

NIKE (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by stock analysts at Bank of America in a report issued on Monday, Benzinga reports. They currently have a $104.00 price target on the footwear maker’s stock. Bank of America‘s price target would indicate a potential upside of 18.90% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Evercore ISI upped their price objective on shares of NIKE from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Oppenheimer restated an “outperform” rating and set a $120.00 price target on shares of NIKE in a research note on Friday, June 28th. StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Sanford C. Bernstein decreased their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Finally, Raymond James reaffirmed a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.04.

NIKE Stock Up 1.5 %

Shares of NYSE NKE opened at $87.47 on Monday. The business has a 50-day moving average of $78.70 and a two-hundred day moving average of $86.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company has a market capitalization of $132.02 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. On average, analysts forecast that NIKE will post 3.06 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of large investors have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC lifted its holdings in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC grew its holdings in NIKE by 106.4% during the 4th 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. Frank Rimerman Advisors LLC acquired a new stake in NIKE during the 4th quarter valued at $33,000. Core Wealth Advisors Inc. increased its position in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new position in shares of NIKE in the fourth quarter worth $36,000. 64.25% of the stock is owned by institutional investors and hedge funds.

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.