Nike (NYSE:NKE) has been assigned a $58.00 target price by research analysts at Piper Jaffray Companies in a note issued to investors on Friday. The brokerage presently has a “hold” rating on the footwear maker’s stock. Piper Jaffray Companies’ target price suggests a potential downside of 10.48% from the company’s previous close.
Several other research firms have also commented on NKE. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price objective for the company in a research note on Wednesday, October 4th. Susquehanna Bancshares restated a “hold” rating and issued a $57.00 price objective on shares of Nike in a research note on Wednesday. Jefferies Group lowered Nike from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $75.00 to $60.00 in a research note on Monday, August 21st. Canaccord Genuity restated a “hold” rating and issued a $50.00 price objective (down from $51.00) on shares of Nike in a research note on Wednesday, September 27th. Finally, Instinet restated a “buy” rating and issued a $62.00 price objective (up from $59.00) on shares of Nike in a research note on Wednesday, September 27th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $60.67.
Nike (NYSE:NKE) traded up $0.26 during trading hours on Friday, hitting $64.79. The stock had a trading volume of 15,158,735 shares, compared to its average volume of 9,605,064. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81. The stock has a market cap of $104,906.55, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 3.01 and a beta of 0.64. Nike has a 52-week low of $50.35 and a 52-week high of $65.07.
In other Nike news, EVP Monique S. Matheson sold 10,000 shares of the 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 completion of the transaction, the executive vice president now owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the 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 transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Asset Planning Services Ltd. lifted its holdings in shares of Nike by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after acquiring an additional 7 shares during the last quarter. Willingdon Wealth Management bought a new position in shares of Nike in the 3rd quarter valued at about $114,000. Atlantic Trust LLC bought a new position in shares of Nike in the 2nd quarter valued at about $136,000. Kistler Tiffany Companies LLC lifted its holdings in shares of Nike by 91.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after acquiring an additional 1,209 shares during the last quarter. Finally, Howe & Rusling Inc. lifted its holdings in shares of Nike by 751.3% in the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after acquiring an additional 2,329 shares during the last quarter. 62.78% of the stock is owned by hedge funds and other institutional investors.
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About Nike
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.
