Nike, Inc. (NKE) PT Set at $64.00 by Buckingham Research
Nike, Inc. (NYSE:NKE) has been assigned a $64.00 target price by equities research analysts at Buckingham Research in a research note issued on Tuesday. The brokerage currently has a “buy” rating on the footwear maker’s stock. Buckingham Research’s price objective points to a potential upside of 23.08% from the stock’s current price.
Several other analysts also recently weighed in on the stock. Citigroup Inc. reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Nike in a report on Monday. Robert W. Baird reaffirmed a “buy” rating on shares of Nike in a report on Friday. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating in a report on Friday. Pivotal Research assumed coverage on shares of Nike in a report on Thursday, October 5th. They issued a “hold” rating and a $56.00 price objective on the stock. Finally, Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price objective on the stock in a report on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $59.14.
Shares of Nike (NYSE NKE) traded up 1.23% during midday trading on Tuesday, reaching $52.00. 9,492,475 shares of the company’s stock were exchanged. Nike has a 12-month low of $49.01 and a 12-month high of $60.53. The stock’s 50 day moving average price is $52.64 and its 200 day moving average price is $54.80. The company has a market cap of $85.23 billion, a price-to-earnings ratio of 22.14 and a beta of 0.61.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. Nike’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. Equities analysts anticipate that Nike will post $2.32 earnings per share for the current fiscal year.
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In related news, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $59.40, for a total value of $339,886.80. Following the sale, the chief financial officer now owns 34,976 shares of the company’s stock, valued at $2,077,574.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the sale, the director now directly owns 25,660 shares in the company, valued at approximately $1,371,527. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,045 shares of company stock worth $7,778,338. 3.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Tandem Investment Advisors Inc. raised its holdings in Nike by 1.2% during the third quarter. Tandem Investment Advisors Inc. now owns 120,173 shares of the footwear maker’s stock worth $6,231,000 after purchasing an additional 1,393 shares in the last quarter. Bath Savings Trust Co raised its holdings in Nike by 0.5% during the third quarter. Bath Savings Trust Co now owns 214,962 shares of the footwear maker’s stock worth $11,146,000 after purchasing an additional 1,140 shares in the last quarter. Perpetual Ltd raised its holdings in Nike by 41.5% during the second quarter. Perpetual Ltd now owns 114,400 shares of the footwear maker’s stock worth $6,750,000 after purchasing an additional 33,539 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in Nike by 51.3% during the second quarter. Perigon Wealth Management LLC now owns 63,834 shares of the footwear maker’s stock worth $3,773,000 after purchasing an additional 21,657 shares in the last quarter. Finally, Griffin Asset Management Inc. acquired a new stake in Nike during the second quarter worth approximately $465,000. 62.55% of the stock is currently owned by 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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