Nike’s (NKE) Neutral Rating Reiterated at Jefferies Financial Group

Nike (NYSE:NKE)‘s stock had its “neutral” rating reaffirmed by stock analysts at Jefferies Financial Group in a note issued to investors on Wednesday, Borsen Zeitung reports. They currently have a $75.00 price objective on the footwear maker’s stock. Jefferies Financial Group’s price target indicates a potential downside of 5.08% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Pivotal Research dropped their price objective on Nike from $117.00 to $78.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler dropped their price objective on Nike from to in a research note on Thursday, March 12th. Morgan Stanley dropped their price objective on Nike from $119.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday. Raymond James dropped their price objective on Nike from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus restated a “buy” rating and set a $110.00 target price on shares of Nike in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $97.79.

Nike stock traded up $6.68 during trading on Wednesday, hitting $79.01. The stock had a trading volume of 27,046,890 shares, compared to its average volume of 9,549,685. Nike has a 1 year low of $60.00 and a 1 year high of $105.62. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $89.43 and its two-hundred day moving average is $93.68. The stock has a market cap of $97.80 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84.

Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 24th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.59 by $0.19. Nike had a return on equity of 50.03% and a net margin of 11.21%. The business had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $9.56 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. Nike’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that Nike will post 2.6 EPS for the current fiscal year.

In related news, insider Elliott Hill sold 90,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $102.50, for a total value of $9,225,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 8,500 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $105.00, for a total value of $892,500.00. The disclosure for this sale can be found here. Insiders sold 271,916 shares of company stock worth $27,686,864 over the last three months. 3.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sowa Financial Group Inc. purchased a new stake in Nike in the fourth quarter worth about $27,000. LFA Lugano Financial Advisors SA bought a new stake in shares of Nike during the fourth quarter valued at approximately $33,000. Carmichael Hill & Associates Inc. bought a new stake in shares of Nike during the fourth quarter valued at approximately $37,000. PSI Advisors LLC bought a new stake in shares of Nike during the fourth quarter valued at approximately $37,000. Finally, Savior LLC bought a new stake in shares of Nike during the fourth quarter valued at approximately $40,000. 65.40% 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, 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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