NIKE (NYSE:NKE) Now Covered by Analysts at Needham & Company LLC

Stock analysts at Needham & Company LLC assumed coverage on shares of NIKE (NYSE:NKE) in a report released on Friday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $84.00 price target on the footwear maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 11.58% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Sanford C. Bernstein cut their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Guggenheim cut their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Morgan Stanley upped their target price on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada cut their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Finally, Robert W. Baird upped their target price on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.86.

NIKE Trading Up 2.6 %

Shares of NKE stock opened at $75.29 on Friday. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock’s 50 day simple moving average is $80.55 and its two-hundred day simple moving average is $82.78. The company has a market cap of $112.88 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 1.80 and a beta of 1.03.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. Research analysts predict that NIKE will post 2.74 earnings per share for the current year.

Institutional Investors Weigh In On NIKE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Soltis Investment Advisors LLC grew its position in NIKE by 12.2% during the 3rd quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock worth $3,183,000 after purchasing an additional 3,918 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of NIKE by 8.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock valued at $23,466,000 after acquiring an additional 20,043 shares during the period. Toronto Dominion Bank grew its position in shares of NIKE by 59.9% during the 3rd quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock valued at $93,315,000 after acquiring an additional 395,434 shares during the period. Coldstream Capital Management Inc. grew its position in shares of NIKE by 62.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 121,279 shares of the footwear maker’s stock valued at $10,347,000 after acquiring an additional 46,567 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after acquiring an additional 251,411 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.