NIKE (NYSE:NKE) Raised to “Strong-Buy” at DA Davidson

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

NKE has been the subject of a number of other research reports. Evercore ISI dropped their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Barclays lowered their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Stifel Nicolaus lowered their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Finally, Truist Financial reduced their price target on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.58.

NIKE Trading Up 0.0 %

Shares of NIKE 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 fifty day moving average price is $77.87 and its two-hundred day moving average price is $80.18. The firm has a market capitalization of $115.14 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. NIKE has a 52-week low of $70.75 and a 52-week high of $109.96.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period last year, the company posted $1.03 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts expect that NIKE will post 2.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NKE. Garrison Point Advisors LLC increased its holdings in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after buying an additional 126 shares in the last quarter. Stephens Consulting LLC raised its position in NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC boosted its stake in shares of NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares in the last quarter. Chapin Davis Inc. grew its holdings in shares of NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after purchasing an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC raised its holdings in NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.