Nike, Inc. (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by equities research analysts at Morgan Stanley in a note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a $64.00 target price on the footwear maker’s stock, down from their previous target price of $68.00. Morgan Stanley’s price target indicates a potential upside of 19.11% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Jefferies Group LLC restated a “buy” rating and issued a $75.00 target price on shares of Nike in a research report on Friday, May 5th. Berenberg Bank began coverage on shares of Nike in a research report on Tuesday, May 16th. They set a “buy” rating and a $70.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and set a $66.00 price objective on shares of Nike in a research report on Friday, June 30th. Deutsche Bank AG set a $63.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Nomura reiterated a “buy” rating on shares of Nike in a research report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $60.42.

Shares of Nike (NKE) traded down 2.745% during trading on Tuesday, hitting $52.255. The stock had a trading volume of 7,915,935 shares. The stock’s 50-day moving average price is $58.03 and its 200 day moving average price is $55.80. Nike has a one year low of $49.01 and a one year high of $60.53. The stock has a market cap of $85.87 billion, a price-to-earnings ratio of 20.819 and a beta of 0.59.

Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. On average, equities analysts forecast that Nike will post $2.42 EPS for the current year.

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In other news, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $59.00, for a total value of $2,950,000.00. Following the completion of the sale, the insider now owns 300,108 shares in the company, valued at $17,706,372. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew Campion sold 96,243 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the sale, the chief financial officer now owns 50,246 shares of the company’s stock, valued at approximately $2,847,943.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 492,360 shares of company stock valued at $28,485,174. 3.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in NKE. DnB Asset Management AS raised its position in Nike by 11.7% in the first quarter. DnB Asset Management AS now owns 146,817 shares of the footwear maker’s stock valued at $8,182,000 after buying an additional 15,380 shares during the last quarter. Bank of The West raised its position in Nike by 3.4% in the first quarter. Bank of The West now owns 41,669 shares of the footwear maker’s stock valued at $2,322,000 after buying an additional 1,362 shares during the last quarter. Patten & Patten Inc. TN raised its position in Nike by 20.6% in the first quarter. Patten & Patten Inc. TN now owns 88,267 shares of the footwear maker’s stock valued at $4,919,000 after buying an additional 15,085 shares during the last quarter. St. Johns Investment Management Company LLC raised its position in Nike by 3.0% in the first quarter. St. Johns Investment Management Company LLC now owns 19,682 shares of the footwear maker’s stock valued at $1,097,000 after buying an additional 581 shares during the last quarter. Finally, Deschutes Portfolio Strategy LLC raised its position in Nike by 4.3% in the first quarter. Deschutes Portfolio Strategy LLC now owns 12,349 shares of the footwear maker’s stock valued at $688,000 after buying an additional 504 shares during the last quarter. Institutional investors own 62.71% of the company’s stock.

About Nike

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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