NIKE (NYSE:NKE) Given “Outperform” Rating at Wedbush

NIKE (NYSE:NKE)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $115.00 price objective on the footwear maker’s stock. Wedbush’s price target points to a potential upside of 22.25% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Oppenheimer cut NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price on the stock. in a report on Friday, February 16th. Citigroup reduced their target price on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Sanford C. Bernstein reduced their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Piper Sandler reduced their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Finally, Truist Financial reiterated a “hold” rating and issued a $111.00 target price on shares of NIKE in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Down 0.1 %

NKE stock opened at $94.07 on Tuesday. The stock has a market capitalization of $141.99 billion, a P/E ratio of 27.67, a PEG ratio of 1.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE has a one year low of $88.66 and a one year high of $128.68. The company has a 50 day moving average price of $96.78 and a two-hundred day moving average price of $103.33.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. As a group, sell-side analysts expect that NIKE will post 3.73 EPS for the current year.

Hedge Funds Weigh In On NIKE

A number of hedge funds and other institutional investors have recently bought and sold shares of NKE. Norges Bank acquired a new position in NIKE in the fourth quarter valued at approximately $1,315,097,000. Price T Rowe Associates Inc. MD boosted its stake in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Capital International Investors boosted its position in shares of NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares during the period. Newport Trust Company LLC acquired a new position in shares of NIKE during the third quarter worth approximately $679,775,000. Finally, Flossbach Von Storch AG boosted its position in shares of NIKE by 433.5% during the third quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock worth $394,775,000 after buying an additional 3,354,677 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.