Bank of America Reaffirms Neutral Rating for Nike (NYSE:NKE)

Nike (NYSE:NKE)‘s stock had its “neutral” rating reaffirmed by analysts at Bank of America in a research note issued on Tuesday, BenzingaRatingsTable reports. They presently have a $105.00 target price on the footwear maker’s stock, up from their prior target price of $98.00. Bank of America‘s price target indicates a potential upside of 8.66% from the stock’s current price.

A number of other research analysts have also recently weighed in on NKE. Raymond James started coverage on shares of Nike in a research report on Tuesday, November 5th. They set an “outperform” rating and a $100.00 price objective on the stock. Citigroup raised their target price on shares of Nike from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley lifted their price target on shares of Nike from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. ValuEngine downgraded shares of Nike from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. set a $105.00 price target on shares of Nike and gave the company a “buy” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $98.46.

Shares of Nike stock opened at $96.63 on Tuesday. The stock has a market cap of $151.42 billion, a price-to-earnings ratio of 38.81, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.29 and a current ratio of 2.01. The stock has a 50 day moving average price of $92.45 and a 200-day moving average price of $87.51. Nike has a one year low of $66.53 and a one year high of $97.63.

Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.15. The company had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.43 billion. Nike had a return on equity of 47.92% and a net margin of 10.81%. Nike’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. Sell-side analysts predict that Nike will post 2.97 earnings per share for the current fiscal year.

In other news, insider Elliott Hill sold 2,770 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $86.96, for a total transaction of $240,879.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 17,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $89.83, for a total value of $1,527,110.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 601,445 shares of company stock valued at $55,696,403. 3.80% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Garrett Wealth Advisory Group LLC purchased a new stake in shares of Nike in the 3rd quarter valued at about $26,000. Marquette Asset Management LLC purchased a new stake in Nike in the third quarter valued at approximately $28,000. Candriam Luxembourg S.C.A. lifted its position in Nike by 97.4% during the third quarter. Candriam Luxembourg S.C.A. now owns 295,776 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 145,904 shares during the last quarter. KCS Wealth Advisory bought a new stake in Nike during the third quarter valued at approximately $38,000. Finally, LFA Lugano Financial Advisors SA lifted its position in Nike by 43.1% during the second quarter. LFA Lugano Financial Advisors SA now owns 465 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 140 shares during the last quarter. 65.16% of the stock is 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, 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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