Nike (NYSE:NKE) Receives Buy Rating from UBS Group

Nike (NYSE:NKE)‘s stock had its “buy” rating restated by equities research analysts at UBS Group in a research report issued to clients and investors on Monday, Borsen Zeitung reports. They presently have a $127.00 price target on the footwear maker’s stock. UBS Group’s price objective indicates a potential upside of 29.53% from the stock’s previous close.

A number of other analysts have also recently issued reports on NKE. Goldman Sachs Group reissued a “buy” rating and set a $110.00 target price (up from $96.00) on shares of Nike in a research note on Friday, June 26th. Piper Sandler increased their target price on Nike from $96.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, June 22nd. Bank of America raised Nike from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $105.00 to $85.00 in a research note on Friday, March 20th. Jefferies Financial Group increased their target price on Nike from $83.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Finally, Cowen increased their target price on Nike from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $108.96.

Shares of NKE stock opened at $98.05 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.90 and a quick ratio of 1.20. The stock has a market cap of $145.66 billion, a PE ratio of 62.06, a price-to-earnings-growth ratio of 3.05 and a beta of 0.78. The stock has a 50-day moving average of $96.34 and a 200-day moving average of $93.52. Nike has a one year low of $60.00 and a one year high of $105.62.

Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 25th. The footwear maker reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.53). The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $7.26 billion. Nike had a net margin of 6.79% and a return on equity of 31.93%. The business’s revenue was down 38.0% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. As a group, research analysts anticipate that Nike will post 2.51 earnings per share for the current year.

In related news, Chairman Mark G. Parker sold 165,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $99.14, for a total value of $16,358,100.00. Following the transaction, the chairman now owns 2,012,954 shares in the company, valued at $199,564,259.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. bought 1,000 shares of the firm’s stock in a transaction on Friday, April 3rd. The stock was acquired at an average price of $84.63 per share, for a total transaction of $84,630.00. Following the transaction, the director now owns 12,851 shares of the company’s stock, valued at $1,087,580.13. The disclosure for this purchase can be found here. Insiders sold 236,000 shares of company stock worth $23,228,100 in the last 90 days. 3.80% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Sowa Financial Group Inc. bought a new position in Nike in the fourth quarter valued at about $27,000. Kessler Investment Group LLC bought a new position in Nike in the first quarter valued at about $27,000. Stuart Chaussee & Associates Inc. grew its position in Nike by 668.9% in the first quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock valued at $29,000 after acquiring an additional 301 shares during the last quarter. PSI Advisors LLC bought a new position in Nike in the fourth quarter valued at about $37,000. Finally, Benjamin Edwards Inc. grew its position in Nike by 100.5% in the first quarter. Benjamin Edwards Inc. now owns 399 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 64.54% 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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