Nike (NKE) Receives New Coverage from Analysts at Buckingham Research

Analysts at Buckingham Research assumed coverage on shares of Nike (NYSE:NKE) in a report released on Saturday. The brokerage set a “buy” rating and a $72.00 price target on the footwear maker’s stock. Buckingham Research’s price objective would suggest a potential upside of 12.54% from the stock’s current price.

NKE has been the topic of a number of other research reports. JPMorgan Chase & Co. set a $58.00 price target on shares of Nike and gave the stock a “neutral” rating in a report on Tuesday, January 2nd. Goldman Sachs Group set a $62.00 price target on shares of Nike and gave the stock a “neutral” rating in a report on Thursday, December 28th. Bank of America set a $42.00 price target on shares of Nike and gave the stock a “sell” rating in a report on Friday, December 22nd. Morgan Stanley set a $64.00 price target on shares of Nike and gave the stock a “buy” rating in a report on Monday, September 18th. Finally, Argus upgraded shares of Nike from a “hold” rating to a “buy” rating and lifted their price target for the stock from $50.35 to $64.46 in a report on Thursday, December 14th. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $64.09.

Shares of Nike (NKE) traded up $0.54 during trading hours on Friday, hitting $63.98. 11,632,300 shares of the stock were exchanged, compared to its average volume of 7,503,675. The firm has a market capitalization of $104,740.00, a price-to-earnings ratio of 27.70, a PEG ratio of 2.90 and a beta of 0.64. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. Nike has a 52 week low of $50.35 and a 52 week high of $65.18.

Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. Nike’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share. research analysts anticipate that Nike will post 2.25 earnings per share for the current fiscal year.

In other Nike news, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction on Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at $1,441,376. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction on Monday, December 18th. The shares were sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the completion of the sale, the chairman now directly owns 1,502,830 shares of the company’s stock, valued at $97,683,950. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 967,896 shares of company stock valued at $60,257,267. Insiders own 3.90% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Nike by 2.5% during the second quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock worth $5,876,718,000 after acquiring an additional 2,452,993 shares in the last quarter. Capital Research Global Investors increased its position in shares of Nike by 10.4% during the second quarter. Capital Research Global Investors now owns 24,135,396 shares of the footwear maker’s stock worth $1,423,988,000 after acquiring an additional 2,274,869 shares in the last quarter. Capital World Investors increased its position in shares of Nike by 58.7% during the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after acquiring an additional 8,058,601 shares in the last quarter. Northern Trust Corp increased its position in shares of Nike by 6.7% during the second quarter. Northern Trust Corp now owns 21,502,892 shares of the footwear maker’s stock worth $1,268,671,000 after acquiring an additional 1,344,638 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Nike by 4,252.6% during the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after acquiring an additional 16,237,557 shares in the last quarter. 62.67% of the stock is owned by institutional investors.

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About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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