Nike (NYSE:NKE) had its target price boosted by stock analysts at Canaccord Genuity from $50.00 to $64.00 in a report issued on Tuesday, Marketbeat reports. The brokerage currently has a “hold” rating on the footwear maker’s stock. Canaccord Genuity’s price objective points to a potential downside of 0.37% from the company’s previous close.
NKE has been the subject of a number of other reports. Citigroup reaffirmed a “buy” rating and set a $74.00 price target on shares of Nike in a research note on Tuesday. Telsey Advisory Group raised their price target on Nike from $61.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday. Buckingham Research increased their price objective on Nike from $64.00 to $71.00 and gave the company a “buy” rating in a report on Monday. Piper Jaffray Companies set a $58.00 price objective on Nike and gave the company a “hold” rating in a report on Friday. Finally, Pivotal Research set a $60.00 price objective on Nike and gave the company a “hold” rating in a report on Friday. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $61.93.
Shares of Nike (NYSE:NKE) traded down $0.57 during trading on Tuesday, reaching $64.24. The company had a trading volume of 8,211,657 shares, compared to its average volume of 9,611,830. The stock has a market cap of $105,689.83, a P/E ratio of 27.57, a P/E/G ratio of 3.03 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. Nike has a 1 year low of $50.35 and a 1 year high of $65.18.
In related news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the sale, the chairman now owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $62.00, for a total value of $620,000.00. Following the sale, the executive vice president now directly owns 23,248 shares in the company, valued at approximately $1,441,376. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
A number of large investors have recently modified their holdings of NKE. Willingdon Wealth Management bought a new position in shares of Nike in the 3rd quarter valued at $114,000. Asset Planning Services Ltd. lifted its stake 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. Atlantic Trust LLC bought a new position in shares of Nike in the 2nd quarter valued at $136,000. Howe & Rusling Inc. lifted its stake 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. Finally, Kistler Tiffany Companies LLC lifted its stake 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. 62.56% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This piece was originally posted by American Banking and Market News and is the sole property of of American Banking and Market News. If you are reading this piece on another website, it was illegally copied and reposted in violation of US & international copyright laws. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/12/19/canaccord-genuity-increases-nike-nke-price-target-to-64-00.html.
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.
