NIKE (NYSE:NKE) Earns Hold Rating from Analysts at China Renaissance

Equities researchers at China Renaissance started coverage on shares of NIKE (NYSE:NKE - Get Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage set a "hold" rating on the footwear maker's stock.

NKE has been the subject of a number of other research reports. Jefferies Financial Group upgraded shares of NIKE from a "hold" rating to a "buy" rating and upped their target price for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. Evercore ISI lowered their price objective on shares of NIKE from $105.00 to $97.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Piper Sandler upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $72.00 to $90.00 in a research report on Friday, January 10th. DA Davidson upgraded shares of NIKE to a "strong-buy" rating in a research report on Monday, December 23rd. Finally, Needham & Company LLC lowered their price objective on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.38.

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NIKE Price Performance

Shares of NYSE NKE traded down $3.85 during midday trading on Wednesday, reaching $68.02. The stock had a trading volume of 77,212,315 shares, compared to its average volume of 12,354,164. The stock has a 50-day moving average of $74.70 and a 200-day moving average of $77.40. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market capitalization of $100.60 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE has a 12-month low of $65.17 and a 12-month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 earnings per share. As a group, research analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company's stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the firm's stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company's stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prostatis Group LLC lifted its stake in shares of NIKE by 29.9% in the fourth quarter. Prostatis Group LLC now owns 13,705 shares of the footwear maker's stock worth $1,037,000 after buying an additional 3,153 shares in the last quarter. Centaurus Financial Inc. lifted its stake in shares of NIKE by 9.6% in the fourth quarter. Centaurus Financial Inc. now owns 2,258 shares of the footwear maker's stock worth $171,000 after buying an additional 198 shares in the last quarter. Aegis Wealth Management LLC purchased a new position in shares of NIKE in the fourth quarter worth about $295,000. Copia Wealth Management purchased a new position in shares of NIKE in the fourth quarter worth about $358,000. Finally, Wood Tarver Financial Group LLC purchased a new position in shares of NIKE in the fourth quarter worth about $57,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

About NIKE

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.