NIKE (NYSE:NKE) Upgraded by Jefferies Financial Group to Buy Rating

NIKE (NYSE:NKE) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Monday,Briefing.com Automated Import reports. The firm presently has a $115.00 price target on the footwear maker’s stock, up from their prior price target of $75.00. Jefferies Financial Group’s price target would indicate a potential upside of 50.33% from the company’s current price.

NKE has been the topic of several other reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 price target on shares of NIKE in a report on Wednesday, February 19th. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. decreased their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Bank of America dropped their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, BMO Capital Markets lifted their target price on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Price Performance

Shares of NKE opened at $76.50 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a 50 day moving average price of $74.31 and a 200-day moving average price of $78.16. NIKE has a fifty-two week low of $68.62 and a fifty-two week high of $106.62. The stock has a market capitalization of $113.15 billion, a PE ratio of 23.61, a PEG ratio of 2.52 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm earned $1.03 earnings per share. NIKE’s revenue was down 7.7% compared to the same quarter last year. Equities analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On NIKE

A number of large investors have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter valued at $28,000. Caitlin John LLC boosted its position in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in NIKE in the 3rd quarter valued at $30,000. Roxbury Financial LLC purchased a new position in shares of NIKE during the 4th quarter worth $30,000. Finally, LFA Lugano Financial Advisors SA grew its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares during the period. 64.25% 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, 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.