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

Research analysts at Needham & Company LLC initiated 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 indicates a potential upside of 11.58% from the stock’s previous close.

A number of other research firms have also weighed in on NKE. Royal Bank of Canada decreased their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Telsey Advisory Group reduced their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Stifel Nicolaus reduced their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. TD Cowen reduced their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and lifted their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.86.

NIKE Trading Up 2.6 %

NKE stock opened at $75.29 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE has a 12-month low of $70.75 and a 12-month high of $123.39. The stock has a market cap of $112.88 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 1.80 and a beta of 1.03. The business’s 50-day moving average is $80.55 and its 200 day moving average is $82.78.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period last year, the company posted $0.94 EPS. The business’s revenue was down 10.4% on a year-over-year basis. On average, sell-side analysts anticipate that NIKE will post 2.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NKE. Loomis Sayles & Co. L P raised its holdings in NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares in the last quarter. State Street Corp grew its position in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares during the period. Holocene Advisors LP acquired a new position in NIKE during the third quarter worth about $148,635,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of NIKE in the third quarter valued at approximately $144,927,000. Finally, PineStone Asset Management Inc. grew its position in shares of NIKE by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after purchasing an additional 1,576,049 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.