NIKE (NYSE:NKE) Given “Outperform” Rating at Wedbush

NIKE (NYSE:NKE)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $115.00 price objective on the footwear maker’s stock. Wedbush’s price target points to a potential upside of 22.25% from the company’s current price.

Several other research firms also recently commented on NKE. Barclays dropped their target price on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Morgan Stanley lowered their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Stifel Nicolaus reduced their price target on NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price target (down previously from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Finally, UBS Group reduced their price target on NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Trading Down 0.1 %

NIKE stock opened at $94.07 on Tuesday. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $96.78 and its two-hundred day simple moving average is $103.33. NIKE has a 12 month low of $88.66 and a 12 month high of $128.68. The company has a market capitalization of $141.99 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. As a group, equities analysts predict that NIKE will post 3.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIKE

Several institutional investors have recently modified their holdings of the stock. Capital International Investors lifted its stake in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. FMR LLC lifted its stake in shares of NIKE by 0.7% in the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after purchasing an additional 125,746 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. Northern Trust Corp lifted its stake in shares of NIKE by 4.5% in the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after purchasing an additional 674,198 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of NIKE during the 4th quarter worth approximately $1,315,097,000. 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.