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JimVanMeerten (62.88)

Nike fill some big shoes

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November 23, 2010 – Comments (0) | RELATED TICKERS: NKE

Nike (NKE) is banking on their new LeBron and Kobe line-up of athletic shoes and athletic wear to rejuvenate the Nike brand. Nike, Inc.'s principal business activity involves the design, development and worldwide marketing of high quality footwear, apparel, equipment, and accessory products. Nike is the one of the largest sellers of athletic footwear and athletic apparel in the world. The company sells its products to retail accounts in the United States and through a mix of independent distributors, licensees and subsidiaries in numerous countries around the world.

The stock has been on a move lately and has a 100% technical buy rating on Barchart.  The stock trades at 85.70 which is 14.02% above its 50 day moving average of 81.29.  The stock has a Relative Strength Index of 66.66% and is rising.  In the last week the price is up 6.47%.

This stock is very popular with the Wall Street brokerage crowd who have published 12 buy and 7 hold recommendations for their brokers to push to their clients.  They predict that sales will increase 8.00% this year and 7.60% next year.  The earnings are estimated to increase by 13.70% this year, 12.30% next year and continue for the next 5 years at a rate of 10.45% per year.

The general investing public likes this company too with the CAPS members on Motley Fool voting 1751 to 116 that the stock will bet the market.  The All Stars are in agreement with a vote of 561 to 20.

Motley Fool notes that the Wall Street columnists they follow have written positive articles 22 to 0.

This stock has a lot going for it:

1 - Recent positive price momentum

2 - 100% Barchart technical buy signal

3 - Trend Spotter (tm) buy signal

4 - Positive sales and earnings projections buy

5 -  Wall Street analysts

6 - Very large following with the general investing public.

Jim Van Meerten is an advisor to Marketocracy Capital Managementwho uses his model portfolios not only to manage their mutual funds but also their clients Separately Managed Accounts. You can read his blogs about those model portfolios and investing here and on Barchart Portfolio Blogs. Please leave a comment below or emailJimVanMeerten@gmail.com.

Disclosure: Jim Van Meerten through Marketocracy Capital Management has an interest in the stocks mentioned in this blog.

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