Nike (NYSE:NKE) Earns Buy Rating from Credit Suisse Group

Nike (NYSE:NKE)‘s stock had its “buy” rating reiterated by research analysts at Credit Suisse Group in a report issued on Friday, June 28th, AnalystRatings.com reports. They currently have a $97.00 price objective on the footwear maker’s stock. Credit Suisse Group’s price target would indicate a potential upside of 12.07% from the company’s current price.

Several other research firms also recently commented on NKE. Telsey Advisory Group upped their price target on shares of Nike from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Needham & Company LLC reiterated a “strong-buy” rating on shares of Lumentum in a research report on Monday, March 18th. Morgan Stanley reiterated an “overweight” rating on shares of in a research report on Thursday, June 20th. Deutsche Bank set a $142.00 price objective on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research report on Friday, June 28th. Finally, UBS Group downgraded shares of JinkoSolar from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $22.00 to $25.00 in a research report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $89.86.

Shares of NYSE:NKE traded down $0.89 during trading on Friday, hitting $86.55. 6,635,298 shares of the company were exchanged, compared to its average volume of 6,235,925. The stock has a market capitalization of $137.43 billion, a PE ratio of 34.76, a P/E/G ratio of 2.32 and a beta of 0.78. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.38. Nike has a 12-month low of $66.53 and a 12-month high of $90.00. The company has a 50 day moving average of $84.60.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.04). Nike had a return on equity of 45.12% and a net margin of 10.30%. The company had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter in the prior year, the firm posted $0.69 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, analysts forecast that Nike will post 2.9 EPS for the current fiscal year.

In other Nike news, insider Elliott Hill sold 34,100 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $88.34, for a total transaction of $3,012,394.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Hilary K. Krane sold 17,903 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was 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 sold 76,003 shares of company stock worth $6,636,550. 3.90% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Tiemann Investment Advisors LLC raised its holdings in Nike by 2.4% in the 4th quarter. Tiemann Investment Advisors LLC now owns 5,420 shares of the footwear maker’s stock valued at $402,000 after acquiring an additional 125 shares in the last quarter. Capital Insight Partners LLC lifted its stake in shares of Nike by 0.7% in the 1st quarter. Capital Insight Partners LLC now owns 17,819 shares of the footwear maker’s stock valued at $1,501,000 after purchasing an additional 126 shares during the period. Midwest Professional Planners LTD. lifted its stake in shares of Nike by 1.0% in the 1st quarter. Midwest Professional Planners LTD. now owns 12,794 shares of the footwear maker’s stock valued at $1,077,000 after purchasing an additional 127 shares during the period. Arcadia Investment Management Corp MI raised its stake in Nike by 45.4% during the 1st quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock worth $35,000 after buying an additional 128 shares during the period. Finally, National Asset Management Inc. raised its stake in Nike by 0.9% during the 1st quarter. National Asset Management Inc. now owns 14,637 shares of the footwear maker’s stock worth $1,234,000 after buying an additional 131 shares during the period. 65.61% of the stock is currently owned by institutional investors.

About Nike

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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