Wedbush Reiterates Outperform Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They currently have a $115.00 price objective on the footwear maker’s stock. Wedbush’s price objective would suggest a potential upside of 22.37% from the company’s previous close.

Several other analysts also recently issued reports on the company. UBS Group dropped their price target on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Wells Fargo & Company lowered their price target on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Citigroup cut their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Raymond James boosted their target price on NIKE from $121.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, December 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $100.00 target price (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $116.52.

NIKE Trading Down 0.2 %

Shares of NYSE NKE opened at $93.98 on Wednesday. The company has a 50-day moving average of $101.52 and a two-hundred day moving average of $103.63. The company has a market cap of $143.03 billion, a PE ratio of 27.64, a P/E/G ratio of 1.74 and a beta of 1.10. NIKE has a 1-year low of $88.66 and a 1-year high of $128.68. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. As a group, equities analysts expect that NIKE will post 3.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIKE

Several large investors have recently modified their holdings of NKE. Impact Partnership Wealth LLC raised its position in shares of NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC grew its stake in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. acquired a new position in NIKE in the fourth quarter valued at approximately $29,000. Financial Freedom LLC bought a new position in shares of NIKE during the 4th quarter worth approximately $29,000. Finally, True Wealth Design LLC increased its stake in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.