Nike, Inc. (NYSE:NKE) has been given a $53.00 price objective by investment analysts at Piper Jaffray Companies in a report issued on Saturday. The firm presently has a “hold” rating on the footwear maker’s stock. Piper Jaffray Companies’ price objective would suggest a potential downside of 11.59% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $62.00 price target on shares of Nike in a report on Tuesday, April 18th. Deutsche Bank AG restated a “buy” rating and set a $64.00 price target on shares of Nike in a report on Saturday, April 22nd. Jefferies Group LLC restated a “buy” rating and set a $75.00 price target on shares of Nike in a report on Friday, May 5th. Berenberg Bank started coverage on Nike in a report on Tuesday, May 16th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Stifel Nicolaus restated a “buy” rating and set a $66.00 price target on shares of Nike in a report on Friday, June 30th. Three 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 company’s stock. Nike presently has a consensus rating of “Hold” and a consensus price target of $61.04.

Nike (NYSE:NKE) traded up 1.44% on Friday, reaching $59.95. 11,048,297 shares of the company traded hands. The stock has a market capitalization of $98.51 billion, a PE ratio of 23.88 and a beta of 0.60. Nike has a one year low of $49.01 and a one year high of $60.33. The firm has a 50 day moving average of $55.02 and a 200-day moving average of $54.92.

Nike (NYSE:NKE) last announced its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, analysts anticipate that Nike will post $2.43 EPS for the current year.

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In related news, insider Trevor A. Edwards sold 200,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the completion of the sale, the insider now owns 729,610 shares in the company, valued at $42,047,424.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric D. Sprunk sold 50,000 shares of the company’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $59.00, for a total value of $2,950,000.00. Following the sale, the insider now owns 300,108 shares of the company’s stock, valued at approximately $17,706,372. 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. 3.90% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of NKE. State Street Corp boosted its stake in shares of Nike by 1.4% in the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock worth $3,319,086,000 after buying an additional 835,003 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after buying an additional 2,375,447 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Nike by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock worth $1,621,066,000 after buying an additional 144,846 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock worth $1,401,251,000 after buying an additional 13,953,567 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Nike by 9.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock worth $706,617,000 after buying an additional 1,130,409 shares during the last quarter. 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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