Nike, Inc. (NKE) Given a $48.00 Price Target by Jefferies Group LLC Analysts
Nike, Inc. (NYSE:NKE) received a $48.00 price target from equities research analysts at Jefferies Group LLC in a report issued on Friday. The firm currently has a “hold” rating on the footwear maker’s stock. Jefferies Group LLC’s price target indicates a potential downside of 9.54% from the stock’s current price.
NKE has been the topic of a number of other research reports. Piper Jaffray Companies set a $50.00 price target on Nike and gave the company a “hold” rating in a research note on Saturday, July 1st. Robert W. Baird reaffirmed an “outperform” rating and set a $62.00 price target on shares of Nike in a research note on Friday, June 30th. Citigroup Inc. reaffirmed a “buy” rating and set a $65.00 price target (down previously from $67.00) on shares of Nike in a research note on Wednesday, September 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $58.00 price target (down previously from $63.00) on shares of Nike in a research note on Monday, August 21st. Finally, FBR & Co reaffirmed a “hold” rating and set a $53.00 price target on shares of Nike in a research note on Wednesday, September 27th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Nike presently has an average rating of “Hold” and an average target price of $59.04.
Shares of Nike (NKE) traded up 0.70% during trading on Friday, reaching $53.06. The company had a trading volume of 13,020,916 shares. The stock has a 50 day moving average price of $52.56 and a 200 day moving average price of $54.69. The firm has a market capitalization of $86.57 billion, a PE ratio of 22.59 and a beta of 0.61. Nike has a 12 month low of $49.01 and a 12 month high of $60.53.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 earnings per share. On average, equities research analysts forecast that Nike will post $2.32 EPS for the current year.
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In related news, insider Eric D. Sprunk sold 112,323 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the sale, the insider now owns 139,551 shares of the company’s stock, valued at approximately $8,179,084.11. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction 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 directly owns 34,976 shares in the company, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,045 shares of company stock worth $7,778,338. Corporate insiders own 3.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. V Wealth Management LLC acquired a new position in Nike during the 2nd quarter worth about $100,000. Asset Planning Services Ltd. lifted its holdings in Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after buying an additional 7 shares during the period. Atlantic Trust LLC acquired a new position in Nike during the 2nd quarter worth about $136,000. Kistler Tiffany Companies LLC lifted its holdings in Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after buying an additional 1,209 shares during the period. Finally, Rational Advisors LLC lifted its holdings in Nike by 14.3% during the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after buying an additional 321 shares during the period. 62.55% of the stock is currently owned by hedge funds and other institutional investors.
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.
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