Nike PT Raised to $90.00 (NKE)
Investment analysts at ISI Group upped their price objective on shares of Nike (NYSE:NKE) from $80.00 to $90.00 in a note issued to investors on Friday, AnalystRatings.Net reports. The firm currently has a “strong-buy” rating on the stock. ISI Group’s price objective would indicate a potential upside of 22.22% from the stock’s previous close.
Shares of Nike (NYSE:NKE) traded up 4.69% during mid-day trading on Friday, hitting $73.64. The stock had a trading volume of 15,599,474 shares. Nike has a 52-week low of $44.825 and a 52-week high of $70.56. The stock has a 50-day moving average of $66.0 and a 200-day moving average of $62.84. The company has a market cap of $65.566 billion and a price-to-earnings ratio of 25.93. Nike also was the recipient of unusually large options trading activity on Wednesday. Stock traders purchased 10,687 call options on the stock. This represents an increase of 136% compared to the average daily volume of 4,522 call options.
Nike (NYSE:NKE) last posted its quarterly earnings results 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.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital raised their price target on shares of Nike (NYSE:NKE) from $75.00 to $85.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of Nike (NYSE:NKE) to $83.00 in a research note to investors on Friday. Finally, analysts at UBS AG downgraded shares of Nike (NYSE:NKE) from a “buy” rating to a “hold” rating in a research note to investors on Friday. They noted that the move was a valuation call. Thirteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $73.54.
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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