Equities researchers at Credit Suisse Group assumed coverage on shares of Nike (NYSE:NKE) in a report released on Monday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $78.00 price target on the footwear maker’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 17.88% from the stock’s previous close.

Several other analysts also recently commented on NKE. Vetr downgraded Nike from a “buy” rating to a “hold” rating and set a $58.81 price objective for the company. in a research note on Friday, November 17th. Robert W. Baird reissued a “buy” rating and issued a $65.00 price objective on shares of Nike in a research note on Friday, November 17th. HSBC downgraded Nike from a “buy” rating to a “hold” rating and increased their price objective for the stock from $58.95 to $62.00 in a research note on Tuesday, November 28th. OTR Global raised Nike to a “positive” rating in a research note on Monday, December 11th. Finally, Susquehanna Bancshares reissued a “hold” rating and issued a $57.00 price objective on shares of Nike in a research note on Wednesday, December 13th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have issued a buy rating to the company. Nike has a consensus rating of “Buy” and a consensus target price of $66.10.

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Nike (NKE) opened at $66.17 on Monday. Nike has a 52 week low of $50.35 and a 52 week high of $70.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. The firm has a market capitalization of $107,960.00, a P/E ratio of 28.65, a P/E/G ratio of 3.00 and a beta of 0.68.

Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The business had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same period in the prior year, the business earned $0.50 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. analysts anticipate that Nike will post 2.26 earnings per share for the current year.

In other Nike news, insider Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the sale, the insider now owns 165,591 shares in the company, valued at $10,448,792.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $65.00, for a total value of $650,000.00. Following the sale, the executive vice president now owns 23,248 shares in the company, valued at approximately $1,511,120. The disclosure for this sale can be found here. Insiders have sold 1,057,896 shares of company stock worth $68,424,217 in the last 90 days. Company insiders own 3.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wagner Wealth Management LLC purchased a new stake in Nike during the fourth quarter valued at about $103,000. D.B. Root & Company LLC purchased a new stake in Nike during the fourth quarter valued at about $572,000. Rehmann Capital Advisory Group increased its holdings in shares of Nike by 16.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 8,409 shares of the footwear maker’s stock worth $526,000 after buying an additional 1,185 shares during the period. KCM Investment Advisors LLC increased its holdings in shares of Nike by 0.9% in the fourth quarter. KCM Investment Advisors LLC now owns 178,275 shares of the footwear maker’s stock worth $11,151,000 after buying an additional 1,506 shares during the period. Finally, Colonial Trust Advisors increased its holdings in shares of Nike by 22.5% in the fourth quarter. Colonial Trust Advisors now owns 170,288 shares of the footwear maker’s stock worth $10,652,000 after buying an additional 31,310 shares during the period. Institutional investors and hedge funds own 65.76% of the company’s stock.

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Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Analyst Recommendations for Nike (NYSE:NKE)

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