NIKE (NYSE:NKE) Receives Buy Rating from Guggenheim

Guggenheim restated their buy rating on shares of NIKE (NYSE:NKE) in a research note released on Wednesday morning,Benzinga reports. Guggenheim currently has a $110.00 price objective on the footwear maker’s stock.

A number of other equities analysts have also issued reports on the stock. Robert W. Baird reduced their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. JPMorgan Chase & Co. reduced their target price on shares of 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 lowered their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research note on Thursday, February 6th. Finally, Barclays decreased their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Price Performance

NYSE NKE opened at $72.31 on Wednesday. The company has a market cap of $106.96 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock’s fifty day moving average price is $74.80 and its 200 day moving average price is $78.08. NIKE has a 1 year low of $68.62 and a 1 year high of $107.34.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. As a group, equities research analysts forecast that NIKE will post 2.05 earnings per share for the current year.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Several large investors have recently bought and sold shares of the business. Heck Capital Advisors LLC acquired a new position in NIKE during the fourth quarter worth $28,000. Caitlin John LLC raised its stake 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 purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America acquired a new position in NIKE in the 3rd quarter valued at about $30,000. Roxbury Financial LLC acquired a new position in NIKE in the fourth quarter valued at approximately $30,000. Finally, LFA Lugano Financial Advisors SA grew its position in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.