Nike Price Target Increased to $69.00 by Analysts at Canaccord Genuity (NKE)
Analysts at Canaccord Genuity hoisted their price objective on shares of Nike (NYSE:NKE) from $61.00 to $69.00 in a research report issued to clients and investors on Monday, Stock Ratings Network reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price objective would indicate a potential downside of 5.01% from the stock’s previous close.
Shares of Nike (NYSE:NKE) traded down 1.36% during mid-day trading on Monday, hitting $72.64. 7,398,684 shares of the company’s stock traded hands. Nike has a 52 week low of $44.825 and a 52 week high of $75.25. The stock’s 50-day moving average is $66.30 and its 200-day moving average is $62.97. The company has a market cap of $64.606 billion and a P/E ratio of 24.92. Nike also saw unusually large options trading activity on Friday. Traders bought 38,747 call options on the company. This is an increase of approximately 371% compared to the average volume of 8,227 call options.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, September 26th. The company reported $0.86 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.23 earnings per share. Nike’s revenue was up 7.7% compared to the same quarter last year. Analysts expect that Nike will post $3.05 EPS for the current fiscal year.
A number of other firms have also recently commented on NKE. Analysts at ISI Group raised their price target on shares of Nike (NYSE:NKE) from $80.00 to $90.00 in a research note to investors on Friday. They now have a “strong-buy” rating on the stock. Separately, 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. Finally, 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. Thirteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Nike currently has an average rating of “Buy” and a consensus price target of $74.50.
NIKE, Inc (NYSE:NKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.