Nike (NYSE:NKE) has been assigned a $68.00 target price by research analysts at DA Davidson in a research note issued on Thursday. The brokerage presently has a “buy” rating on the footwear maker’s stock. DA Davidson’s price target suggests a potential upside of 5.38% from the company’s previous close.
Several other brokerages have also issued reports on NKE. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 target price for the company in a research report on Wednesday, October 4th. Susquehanna Bancshares reiterated a “hold” rating and issued a $57.00 target price on shares of Nike in a research report on Wednesday. Jefferies Group lowered shares of Nike from a “buy” rating to a “hold” rating and cut their target price for the stock from $75.00 to $60.00 in a research report on Monday, August 21st. Canaccord Genuity reiterated a “hold” rating and issued a $50.00 target price (down from $51.00) on shares of Nike in a research report on Wednesday, September 27th. Finally, Instinet reiterated a “buy” rating and issued a $62.00 target price (up from $59.00) on shares of Nike in a research report on Wednesday, September 27th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have given a buy rating to the company. Nike has an average rating of “Hold” and an average target price of $60.14.
Nike (NKE) traded up $0.23 on Thursday, hitting $64.53. 12,968,876 shares of the stock were exchanged, compared to its average volume of 9,579,646. Nike has a 12-month low of $50.35 and a 12-month high of $64.85. The stock has a market cap of $105,440.00, a price-to-earnings ratio of 26.46, a P/E/G ratio of 2.91 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period in the previous year, the business earned $0.73 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. research analysts forecast that Nike will post 2.28 earnings per share for the current year.
In other news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the completion of the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the transaction, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at $1,441,376. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Several large investors have recently modified their holdings of the company. Asset Planning Services Ltd. raised its stake in Nike by 0.3% in the second 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 in the last quarter. Willingdon Wealth Management bought a new position in Nike in the third quarter worth about $114,000. Atlantic Trust LLC bought a new position in Nike in the second quarter worth about $136,000. Kistler Tiffany Companies LLC raised its stake in Nike by 91.7% in the second 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 in the last quarter. Finally, Howe & Rusling Inc. raised its stake in Nike by 751.3% in the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after buying an additional 2,329 shares in the last quarter. 62.78% of the stock is owned by hedge funds and other institutional investors.
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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.