Nike (NYSE:NKE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “NIKE has surpassed the sector in the past three months driven by strength in international business and the global NIKE Direct business. Also, NIKE has been focused on its Consumer Direct Offense plan. Driven by its Triple Double strategy, this restructuring plan focuses on using digital methods for rapid innovation and product development, along with strengthening consumer relations by operating through core regions. It also has a positive record of earnings surprises in the recent quarters. However, lackluster sales trend in the company’s key North American market remains a headwind. Also, gross margin in the last quarter was hurt by currency woes and a higher mix of off-price sales. Further, management anticipates near-term results to be hurt by the tough retail environment, which led to a bleak second quarter view. Nevertheless, second-quarter estimates have been stable ahead of the earnings release.”

Several other equities analysts have also recently commented on NKE. Deutsche Bank reaffirmed a “buy” rating and set a $61.00 price objective (down previously from $69.00) on shares of Nike in a research note on Wednesday, September 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price objective on shares of Nike in a research note on Thursday, August 24th. Vetr cut shares of Nike from a “strong-buy” rating to a “buy” rating and set a $58.87 price objective for the company. in a research note on Tuesday, September 12th. Robert W. Baird reaffirmed a “buy” rating and set a $65.00 price objective on shares of Nike in a research note on Sunday, September 10th. Finally, Morgan Stanley reaffirmed a “buy” rating and set a $64.00 price objective (down previously from $68.00) on shares of Nike in a research note on Tuesday, August 29th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $62.19.

Shares of Nike (NYSE:NKE) opened at $64.24 on Wednesday. Nike has a 12-month low of $50.35 and a 12-month high of $65.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81. The stock has a market cap of $105,738.61, a P/E ratio of 27.58, a PEG ratio of 3.04 and a beta of 0.64.

Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. sell-side analysts expect that Nike will post 2.28 EPS for the current year.

In other news, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the completion of the sale, the chairman now directly owns 1,502,830 shares of the company’s stock, valued at approximately $97,683,950. The disclosure for this sale can be found here. Insiders sold a total of 290,094 shares of company stock valued at $17,480,160 in the last ninety days. 3.90% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in NKE. Asset Planning Services Ltd. raised its holdings in Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after buying an additional 7 shares during the last quarter. Stearns Financial Services Group raised its holdings in Nike by 0.4% during the 2nd quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after buying an additional 17 shares during the last quarter. Smith Shellnut Wilson LLC ADV raised its holdings in Nike by 0.3% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after buying an additional 41 shares during the last quarter. Buckingham Asset Management LLC raised its holdings in Nike by 0.7% during the 2nd quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock valued at $401,000 after buying an additional 45 shares during the last quarter. Finally, Carroll Financial Associates Inc. raised its holdings in Nike by 0.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 9,139 shares of the footwear maker’s stock valued at $539,000 after buying an additional 48 shares during the last quarter. 62.56% of the stock is owned by institutional investors.

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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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