Nike, Inc. (NYSE:NKE) received a $68.00 price target from equities researchers at Morgan Stanley in a research report issued to clients and investors on Thursday. The firm presently has a “buy” rating on the footwear maker’s stock. Morgan Stanley’s price target would indicate a potential upside of 17.71% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $62.00 price target on shares of Nike in a research report on Tuesday, April 18th. Deutsche Bank AG reaffirmed a “buy” rating and set a $64.00 price target on shares of Nike in a research report on Saturday, April 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Nike in a research report on Friday, May 5th. Berenberg Bank initiated coverage on Nike in a research report on Tuesday, May 16th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $63.24 price target on the stock in a research report on Wednesday, March 22nd. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the stock. Nike presently has a consensus rating of “Hold” and a consensus target price of $60.95.

Nike (NYSE:NKE) traded up 2.15% during mid-day trading on Thursday, reaching $59.01. The company’s stock had a trading volume of 3,555,639 shares. Nike has a one year low of $49.01 and a one year high of $60.33. The stock has a 50-day moving average price of $54.84 and a 200-day moving average price of $54.89. The company has a market capitalization of $97.18 billion, a price-to-earnings ratio of 23.51 and a beta of 0.60.

Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. Equities research analysts forecast that Nike will post $2.43 EPS for the current year.

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In related news, CAO Hilary K. Krane sold 28,072 shares of the business’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the completion of the transaction, the chief accounting officer now owns 177,723 shares in the company, valued at $10,325,706.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew Campion sold 96,243 shares of the business’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the transaction, the chief financial officer now owns 50,246 shares of the company’s stock, valued at approximately $2,847,943.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 374,315 shares of company stock valued at $21,562,036. Insiders own 3.90% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Accredited Investors Inc. boosted its stake in shares of Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after buying an additional 19 shares during the period. Montecito Bank & Trust boosted its stake in shares of Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after buying an additional 24 shares during the period. Smith Shellnut Wilson LLC ADV boosted its stake in shares of Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after buying an additional 41 shares during the period. Intrust Bank NA boosted its stake in shares of Nike by 0.9% in the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock worth $283,000 after buying an additional 46 shares during the period. Finally, Welch & Forbes LLC boosted its stake in shares of Nike by 0.5% in the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock worth $557,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 63.98% of the company’s stock.

Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Analyst Recommendations for Nike (NYSE:NKE)

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