NIKE (NYSE:NKE) Receives “Buy” Rating from Needham & Company LLC

NIKE (NYSE:NKE)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $84.00 price objective on the footwear maker’s stock. Needham & Company LLC’s target price would suggest a potential upside of 8.95% from the company’s current price.

Several other analysts also recently issued reports on NKE. Royal Bank of Canada reduced their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Stifel Nicolaus reduced their target price on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday. Barclays reduced their price objective on NIKE from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group lifted their price objective on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.81.

NIKE Stock Performance

Shares of NKE stock opened at $77.10 on Friday. The stock has a fifty day moving average price of $78.18 and a 200 day moving average price of $80.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market cap of $115.60 billion, a PE ratio of 22.09, a P/E/G ratio of 1.89 and a beta of 1.02. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The business’s revenue was down 7.7% on a year-over-year basis. Sell-side analysts forecast that NIKE will post 2.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the 3rd quarter worth approximately $30,000. VitalStone Financial LLC lifted its stake in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Dunhill Financial LLC lifted its stake in NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares during the last quarter. Riverview Trust Co bought a new position in shares of NIKE during the third quarter worth about $52,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of NIKE in the 3rd quarter worth about $54,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.