DA Davidson Upgrades NIKE (NYSE:NKE) to Strong-Buy

NIKE (NYSE:NKE) was upgraded by research analysts at DA Davidson to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Barclays lowered their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Jefferies Financial Group raised their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Morgan Stanley reduced their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, Stifel Nicolaus decreased their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.58.

NIKE Stock Up 0.0 %

NIKE stock opened at $76.79 on Monday. The stock has a market cap of $115.14 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The firm’s 50-day simple moving average is $77.87 and its 200 day simple moving average is $80.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $109.96.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. Research analysts predict that NIKE will post 2.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.