Nike, Inc. (NYSE:NKE) PT Set at $66.00 by Stifel Nicolaus
Nike, Inc. (NYSE:NKE) has been assigned a $66.00 target price by research analysts at Stifel Nicolaus in a report released on Saturday. The brokerage presently has a “buy” rating on the footwear maker’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 10.09% from the stock’s previous close.
NKE has been the subject of several other reports. Forward View set a $55.00 price objective on shares of Nike and gave the stock a “hold” rating in a report on Sunday, March 26th. B. Riley reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Nike in a research report on Monday, March 27th. Vetr downgraded shares of Nike from a “strong-buy” rating to a “buy” rating and set a $60.36 target price on the stock. in a research report on Monday, March 27th. Canaccord Genuity reissued a “buy” rating and set a $51.00 price objective on shares of Nike in a research report on Tuesday, March 28th. Finally, Argus downgraded shares of Nike from a “buy” rating to a “hold” rating and raised their price target for the company from $55.25 to $55.56 in a report on Tuesday, April 4th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. Nike presently has an average rating of “Hold” and an average target price of $61.04.
Shares of Nike (NYSE:NKE) traded up 1.44% on Friday, reaching $59.95. 11,048,297 shares of the company were exchanged. The firm has a market capitalization of $98.51 billion, a PE ratio of 23.88 and a beta of 0.60. The company’s 50 day moving average is $55.02 and its 200 day moving average is $54.92. Nike has a 12-month low of $49.01 and a 12-month high of $60.33.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. Nike’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 earnings per share. Analysts forecast that Nike will post $2.43 earnings per share for the current year.
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In other news, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the transaction, the chief financial officer now owns 50,246 shares in the company, valued at $2,847,943.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric D. Sprunk sold 50,000 shares of Nike stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 374,315 shares of company stock worth $21,562,036. 3.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in NKE. Baltimore Washington Financial Advisors Inc. purchased a new position in shares of Nike during the fourth quarter valued at about $10,508,000. V Wealth Management LLC bought a new position in shares of Nike during the second quarter worth $100,000. Webster Bank N. A. raised its position in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in shares of Nike during the first quarter worth $117,000. Finally, Gierl Augustine Investment Management Inc raised its position in shares of Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock worth $118,000 after buying an additional 107 shares during the last quarter. 63.98% of the stock is owned by hedge funds and other institutional investors.
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.
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