NIKE (NYSE:NKE) Receives “Neutral” Rating from UBS Group

NIKE (NYSE:NKE)‘s stock had its “neutral” rating restated by investment analysts at UBS Group in a research report issued on Thursday,Benzinga reports. They currently have a $73.00 price target on the footwear maker’s stock. UBS Group’s price target suggests a potential downside of 4.48% from the company’s current price.

Other equities research analysts have also issued reports about the company. Robert W. Baird dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Barclays dropped their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Bank of America lowered their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Guggenheim reduced their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.58.

NIKE Trading Down 0.7 %

NYSE NKE opened at $76.42 on Thursday. The company has a market capitalization of $114.58 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE has a 12 month low of $70.75 and a 12 month high of $109.96. The company’s fifty day moving average price is $77.47 and its two-hundred day moving average price is $80.00.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, research analysts predict that NIKE will post 2.72 earnings per share for the current fiscal year.

Institutional Trading of NIKE

A number of hedge funds have recently bought and sold shares of NKE. ING Groep NV purchased a new stake in shares of NIKE in the third quarter valued at $29,628,000. Cordatus Wealth Management LLC lifted its stake in NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after acquiring an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC boosted its position in NIKE by 14.3% during the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares during the period. Coldstream Capital Management Inc. grew its stake in 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 in the last quarter. Finally, Investment Management Corp of Ontario grew its stake in NIKE by 49.4% during the 3rd quarter. Investment Management Corp of Ontario now owns 40,238 shares of the footwear maker’s stock valued at $3,557,000 after acquiring an additional 13,300 shares in 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.