NEW YORK (
) is trading at unusually high volume Wednesday with 10.9 million shares changing hands. It is currently at four times its average daily volume and trading up $2.14 (+2.8%) at $77.58 as of 3:27 p.m. ET.
Nike has a market cap of $29.9 billion and is part of the
industry. Shares are down 11.7% year to date as of the close of trading on Tuesday.
NIKE, Inc. designs, develops, and markets footwear, apparel, equipment, and accessory products for men, women, and children worldwide. The company offers footwear in the categories of running, training, basketball, soccer, sport-inspired casual shoes, and kids' shoes. The company has a P/E ratio of 18.2, equal to the average consumer non-durables industry P/E ratio and above the S&P 500 P/E ratio of 16.1.
TheStreet Ratings rates Nike as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, growth in earnings per share and reasonable valuation levels. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full
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