Telsey Advisory Group Reiterates “Outperform” Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE)‘s stock had its “outperform” rating restated by stock analysts at Telsey Advisory Group in a report issued on Friday, Benzinga reports. They presently have a $100.00 price target on the footwear maker’s stock. Telsey Advisory Group’s price target suggests a potential upside of 15.58% from the stock’s previous close.

A number of other brokerages have also commented on NKE. The Goldman Sachs Group decreased their price objective on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada lowered their price objective on NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 2nd. Bank of America lowered their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Wedbush lowered their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Robert W. Baird increased their price objective on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $96.15.

NIKE Price Performance

Shares of NKE opened at $86.52 on Friday. The firm has a market capitalization of $130.59 billion, a PE ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. The company’s 50-day moving average is $78.11 and its 200-day moving average is $87.06. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. Equities analysts forecast that NIKE will post 3.06 EPS for the current year.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Institutional investors have recently made changes to their positions in the stock. Annapolis Financial Services LLC grew its position in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC boosted its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE during the 4th quarter valued at about $33,000. Core Wealth Advisors Inc. boosted its position in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. bought a new stake in shares of NIKE during the 4th quarter valued at about $36,000. Institutional investors own 64.25% of the company’s stock.

About NIKE

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.