Nike (NYSE:NKE) Stock Rating Reaffirmed by Wedbush

Nike (NYSE:NKE)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a note issued to investors on Tuesday, RTT News reports. They currently have a $96.00 target price on the footwear maker’s stock. Wedbush’s price target would indicate a potential upside of 9.50% from the company’s previous close. Wedbush also issued estimates for Nike’s Q2 2020 earnings at $0.58 EPS, Q3 2020 earnings at $0.76 EPS, Q4 2020 earnings at $0.79 EPS, FY2020 earnings at $2.86 EPS and FY2021 earnings at $3.30 EPS.

NKE has been the subject of several other research reports. Guggenheim reissued a “buy” rating and issued a $100.00 price objective on shares of Nike in a research note on Friday, August 23rd. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating and set a $95.00 price objective for the company in a research note on Monday, May 27th. Bank of America raised shares of Nike to an “underperform” rating and raised their price objective for the stock from $60.00 to $70.00 in a research note on Monday, June 24th. Canaccord Genuity reissued a “buy” rating and issued a $96.00 price objective on shares of Nike in a research note on Wednesday, June 19th. Finally, Goldman Sachs Group set a $83.00 price objective on shares of Nike and gave the stock a “neutral” rating in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $90.39.

NYSE NKE traded up $0.92 during trading on Tuesday, hitting $87.67. The stock had a trading volume of 3,581,820 shares, compared to its average volume of 6,401,469. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 2.10. The stock has a market capitalization of $138.94 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 2.35 and a beta of 0.79. Nike has a one year low of $66.53 and a one year high of $90.00. The stock has a 50 day simple moving average of $83.77 and a 200 day simple moving average of $84.72.



Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.04). The firm had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nike had a return on equity of 45.12% and a net margin of 10.30%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. On average, sell-side analysts predict that Nike will post 2.9 EPS for the current year.

In related news, Director Elizabeth J. Comstock sold 24,000 shares of Nike stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the transaction, the director now directly owns 38,813 shares of the company’s stock, valued at $3,292,894.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Hilary K. Krane sold 17,903 shares of Nike stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $88.70, for a total transaction of $1,587,996.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,637 shares of company stock worth $16,767,237. 3.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Jackson Grant Investment Advisers Inc. acquired a new stake in Nike in the first quarter valued at approximately $25,000. Shamrock Asset Management LLC acquired a new stake in shares of Nike during the first quarter worth $25,000. Thor Advisors LLC acquired a new stake in shares of Nike during the first quarter worth $26,000. Mackey Komara & Dankovich LLC acquired a new stake in shares of Nike during the first quarter worth $30,000. Finally, Hexavest Inc. acquired a new stake in shares of Nike during the second quarter worth $30,000. Institutional investors own 65.09% of the company’s stock.

Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Analyst Recommendations for Nike (NYSE:NKE)

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