Deutsche Bank Aktiengesellschaft Reaffirms “Buy” Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by Deutsche Bank Aktiengesellschaft in a research note issued to investors on Friday, Benzinga reports. They currently have a $92.00 target price on the footwear maker’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 6.33% from the company’s previous close.

NKE has been the topic of several other reports. Telsey Advisory Group lowered their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada decreased their price objective on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. Stifel Nicolaus decreased their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Evercore ISI decreased their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, HSBC decreased their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $96.15.

NIKE Price Performance

NYSE:NKE opened at $86.52 on Friday. NIKE has a one year low of $70.75 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The firm has a market cap of $130.59 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. The firm’s fifty day moving average is $78.11 and its two-hundred day moving average is $87.06.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. Research analysts expect that NIKE will post 3.06 EPS for the current year.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of NIKE

Several hedge funds have recently made changes to their positions in NKE. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the period. True Wealth Design LLC boosted its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Core Wealth Advisors Inc. boosted its position in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the period. Frank Rimerman Advisors LLC purchased a new position in shares of NIKE during the 4th quarter worth approximately $33,000. Finally, Gold Investment Management Ltd. purchased a new position in shares of NIKE during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.