NIKE’s (NKE) Buy Rating Reaffirmed at Deutsche Bank Aktiengesellschaft

NIKE (NYSE:NKEGet Free Report)‘s stock had its “buy” rating reissued by Deutsche Bank Aktiengesellschaft in a research note issued on Thursday, MarketBeat.com reports. They presently have a $115.00 price objective on the footwear maker’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 23.14% from the stock’s previous close.

Several other brokerages have also recently weighed in on NKE. Piper Sandler reduced their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Barclays reduced their price objective on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price objective (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Morgan Stanley cut their price target on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Finally, Jefferies Financial Group cut their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $115.59.

View Our Latest Report on NKE

NIKE Stock Down 0.8 %

Shares of NYSE:NKE opened at $93.39 on Thursday. The company has a fifty day moving average of $93.14 and a 200-day moving average of $100.58. The company has a market capitalization of $140.96 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. 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 52-week low of $88.66 and a 52-week high of $123.39.

NIKE (NYSE:NKEGet Free Report) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. On average, equities analysts predict that NIKE will post 3.75 EPS for the current fiscal year.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other NIKE news, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,660 shares of company stock worth $19,946,333. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares during the period. Capital International Investors grew its position in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the period. FMR LLC grew its position in shares of NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after acquiring an additional 125,746 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of NIKE by 87.5% during the 4th 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. Finally, Northern Trust Corp grew its position in shares of NIKE by 4.5% during the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after acquiring an additional 674,198 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for NIKE (NYSE:NKE)

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