NIKE (NYSE:NKE) Upgraded by DA Davidson to Strong-Buy Rating

DA Davidson upgraded shares of NIKE (NYSE:NKE) to a strong-buy rating in a report released on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Bank of America cut their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price objective on shares of NIKE in a research report on Friday, December 20th. UBS Group decreased their target price on shares of NIKE from $80.00 to $73.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Stifel Nicolaus cut their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Finally, Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.58.

NIKE Trading Up 0.0 %

NYSE:NKE opened at $76.79 on Monday. The firm has a 50-day simple moving average of $77.87 and a 200-day simple moving average of $80.18. NIKE has a one year low of $70.75 and a one year high of $109.96. The firm has a market cap of $115.14 billion, a P/E ratio of 22.00, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

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

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is 49.38%.

Institutional Trading of NIKE

A number of hedge funds have recently added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE in the third quarter worth about $30,000. VitalStone Financial LLC increased its stake in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Dunhill Financial LLC raised its holdings in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. Strategic Financial Concepts LLC purchased a new position in NIKE during the second quarter worth approximately $48,000. Finally, Ecofi Investissements SA acquired a new stake in NIKE in the second quarter valued at approximately $49,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.