Guggenheim Securities Initiates Coverage on Nike Inc to Buy

Guggenheim Securities Initiates Coverage on Nike Inc(NYSE:NKE). The shares have been rated Buy. The rating by Guggenheim Securities was issued on Sep 30, 2016.

In a different note, On Sep 28, 2016, Credit Suisse said it Maintains its rating on Nike Inc. In the research note, the firm Lowers the price-target to $63.00 per share. The shares have been rated ‘Outperform’ by the firm. On Sep 28, 2016, Barclays said it Maintains its rating on Nike Inc. In the research note, the firm Lowers the price-target to $70.00 per share. The shares have been rated ‘Overweight’ by the firm. On Sep 28, 2016, Citigroup said it Maintains its rating on Nike Inc. In the research note, the firm Raises the price-target to $61.00 per share. The shares have been rated ‘Buy’ by the firm. On Sep 28, 2016, Brean Capital said it Downgrades its rating on Nike Inc. The shares have been rated ‘Hold’ by the firm. On Sep 28, 2016, Morgan Stanley said it Maintains its rating on Nike Inc. The shares have been rated ‘Equal-weight’ by the firm. On Sep 28, 2016, DA Davidson said it Maintains its rating on Nike Inc. The shares have been rated ‘Buy’ by the firm.

Nike Inc (NKE) shares turned negative on Tuesdays trading session with the shares closing down -0.53 points or -1.01% at a volume of 1,07,37,412. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $53.06. The peak price level was also seen at $53.06 while the days lowest was $52.08. Finally the shares closed at $52.14. The 52-week high of the shares is $68.195 while the 52-week low is $51.475. According to the latest information available, the market cap of the company is $87,471 M.

Nike Inc(NKE) last announced its earnings results on Sep 27, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $9.06B. Analysts had an estimated revenue of $8.88B. Earnings per share were $0.73. Analysts had estimated an EPS of $0.56.

Several Insider Transactions has been reported to the SEC. On Jul 27, 2016, John F Slusher (EVP: GBL SPORTS MKTG) sold 72,696 shares at $57.75 per share price.Also, On Jul 1, 2016, John C Lechleiter (director) purchased 1,000 shares at $55.09 per share price.On May 2, 2016, Eric D Sprunk (CHIEF OPERATING OFFICER) sold 135,764 shares at $58.82 per share price, according to the Form-4 filing with the securities and exchange commission.

NIKE Inc. is engaged in the design development marketing and selling of athletic footwear apparel equipment accessories and services. The Company sells its products to retail accounts through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations) and through a mix of independent distributors and licensees throughout the world. The Company focuses its NIKE Brand product offerings in eight key categories: Running Basketball Football (Soccer) Men’s Training Women’s Training Action Sports Sportswear (the Company’s sports-inspired lifestyle products) and Golf. The Company also markets products designed for kids as well as for other athletic and recreational uses such as cricket lacrosse tennis volleyball wrestling walking and outdoor activities. The Company’s portfolio brands include the NIKE Brand Jordan Brand Hurley and Converse.

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