NIKE (NYSE:NKE) Upgraded at DA Davidson

NIKE (NYSE:NKE) was upgraded by equities research analysts at DA Davidson to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports on NKE. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price objective on shares of NIKE in a research note on Friday, December 20th. Bank of America cut their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company reduced their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Finally, UBS Group reduced their price target on NIKE from $80.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Fifteen 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 company’s stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.58.

NIKE Stock Up 0.0 %

NKE stock opened at $76.79 on Monday. 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 company’s 50 day simple moving average is $77.87 and its 200-day simple moving average is $80.18. The firm has a market capitalization of $115.14 billion, a PE ratio of 22.00, a P/E/G ratio of 1.89 and a beta of 1.02. NIKE has a 12 month low of $70.75 and a 12 month high of $109.96.

NIKE (NYSE:NKE) last released 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. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 earnings per share. Equities analysts expect that NIKE will post 2.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. ING Groep NV acquired a new position in shares of NIKE in the 3rd quarter valued at $29,628,000. Cordatus Wealth Management LLC grew its stake in shares of NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after buying an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC grew its position in NIKE by 14.3% in the third 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 in the last quarter. Coldstream Capital Management Inc. raised its holdings 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 purchasing an additional 46,567 shares in the last quarter. Finally, Investment Management Corp of Ontario boosted its holdings in NIKE by 49.4% in the third quarter. Investment Management Corp of Ontario now owns 40,238 shares of the footwear maker’s stock worth $3,557,000 after purchasing an additional 13,300 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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.