Nike (NYSE:NKE) received a $59.00 price target from investment analysts at Piper Jaffray Companies in a report issued on Friday. The firm currently has a “hold” rating on the footwear maker’s stock. Piper Jaffray Companies’ target price would indicate a potential downside of 5.36% from the stock’s current price.
NKE has been the subject of several other reports. Goldman Sachs Group set a $59.00 price objective on Nike and gave the stock a “neutral” rating in a research note on Thursday, December 14th. HSBC lowered Nike from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $58.95 to $62.00 in a research note on Tuesday, November 28th. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. B. Riley boosted their target price on Nike from $53.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Citigroup restated a “buy” rating and set a $65.00 target price (down from $67.00) on shares of Nike in a report on Wednesday, September 27th. Four investment 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 company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.62.
Nike (NYSE NKE) traded down $2.43 during trading hours on Friday, reaching $62.34. The company’s stock had a trading volume of 4,062,596 shares, compared to its average volume of 9,642,600. Nike has a 52 week low of $50.35 and a 52 week high of $65.18. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29. The stock has a market cap of $103,748.16, a price-to-earnings ratio of 27.06, a P/E/G ratio of 2.99 and a beta of 0.64.
In other news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $65.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 23,248 shares in the company, valued at approximately $1,511,120. The disclosure for this sale can be found here. Insiders have sold 290,094 shares of company stock worth $17,480,160 in the last ninety days. Corporate insiders own 3.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Lenox Wealth Advisors boosted its stake in Nike by 13.7% in the fourth quarter. Lenox Wealth Advisors now owns 1,457 shares of the footwear maker’s stock valued at $91,000 after acquiring an additional 175 shares in the last quarter. V Wealth Management LLC acquired a new position in Nike in the second quarter valued at $100,000. CapWealth Advisors LLC boosted its stake in Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock valued at $104,000 after acquiring an additional 1,100 shares in the last quarter. Cribstone Capital Management LLC acquired a new position in Nike in the second quarter valued at $106,000. Finally, Brick & Kyle Associates boosted its stake in Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock valued at $111,000 after acquiring an additional 200 shares in the last quarter. 62.56% of the stock is currently owned by institutional investors and hedge funds.
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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.
