NIKE’s (NKE) Buy Rating Reaffirmed at Needham & Company LLC

NIKE (NYSE:NKE)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They presently have a $84.00 target price on the footwear maker’s stock. Needham & Company LLC’s price target would suggest a potential upside of 8.95% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Morgan Stanley cut their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday. Robert W. Baird increased their price target on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Barclays reduced their price objective on shares of NIKE from $81.00 to $79.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Stifel Nicolaus reduced their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.81.

NIKE Trading Up 0.3 %

NYSE NKE opened at $77.10 on Friday. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39. The firm has a 50 day moving average of $78.18 and a two-hundred day moving average of $80.77. The stock has a market capitalization of $115.60 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s revenue was down 7.7% compared to the same quarter last year. As a group, research analysts expect that NIKE will post 2.72 EPS for the current fiscal year.

Institutional Investors Weigh In On NIKE

A number of hedge funds have recently added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE in the 3rd quarter valued at approximately $30,000. VitalStone Financial LLC raised its position in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Dunhill Financial LLC lifted its holdings in NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of NIKE during the 2nd quarter worth $48,000. Finally, Ecofi Investissements SA acquired a new position in shares of NIKE during the 2nd quarter worth $49,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.