Nike Given New $81.00 Price Target at Buckingham Research (NKE)
Investment analysts at Buckingham Research hoisted their target price on shares of Nike (NYSE:NKE) from $68.00 to $81.00 in a note issued to investors on Thursday, StockRatingsNetwork.com reports. Buckingham Research’s price objective indicates a potential upside of 15.15% from the stock’s previous close.
Nike (NYSE:NKE) traded up 2.06% during mid-day trading on Thursday, hitting $70.34. The stock had a trading volume of 6,723,204 shares. Nike has a one year low of $44.825 and a one year high of $70.56. The stock has a 50-day moving average of $65.97 and a 200-day moving average of $62.78. The company has a market cap of $62.627 billion and a P/E ratio of 25.40. Nike also was the target of unusually large options trading activity on Wednesday. Stock traders bought 10,687 call options on the stock. This represents an increase of approximately 136% compared to the typical volume of 4,522 call options.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, September 26th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.78 by $0.08. The company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Monday, October 7th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Thursday, August 29th.
In other Nike news, CFO Donald Blair sold 33,000 shares of Nike stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $68.00, for a total transaction of $2,244,000.00. Following the sale, the chief financial officer now directly owns 203,635 shares in the company, valued at approximately $13,847,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on NKE. Analysts at Janney Montgomery Scott raised their price target on shares of Nike (NYSE:NKE) from $57.00 to $65.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Nike (NYSE:NKE) from $68.00 to $75.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Bank of America Corp. raised their price target on shares of Nike (NYSE:NKE) to $75.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Twelve investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $71.59.
NIKE, Inc (NYSE:NKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.
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