Nike (NYSE:NKE) has been given a $71.00 target price by Buckingham Research in a report issued on Monday. The brokerage presently has a “buy” rating on the footwear maker’s stock. Buckingham Research’s price target indicates a potential upside of 13.51% from the company’s current price.
NKE has been the subject of several other research reports. Goldman Sachs Group set a $59.00 target price 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 raised their price target for the stock from $58.95 to $62.00 in a research report 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 raised their price target on Nike from $53.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, December 22nd. Finally, Citigroup restated a “buy” rating and issued a $65.00 price target (down from $67.00) on shares of Nike in a research note on Wednesday, September 27th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $63.75.
Nike (NKE) traded down $0.40 during trading hours on Monday, hitting $62.55. The company had a trading volume of 5,222,065 shares, compared to its average volume of 9,622,537. Nike has a 12-month low of $50.35 and a 12-month high of $65.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. The firm has a market capitalization of $102,703.99, a PE ratio of 27.08, a PEG ratio of 2.97 and a beta of 0.64.
In related news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on 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 owns 1,637,736 shares in the company, valued at $90,124,612.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the transaction, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 516,134 shares of company stock worth $31,743,284. 3.90% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Asset Planning Services Ltd. raised its holdings in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after purchasing an additional 7 shares in the last quarter. Stearns Financial Services Group raised its holdings in shares of Nike by 0.4% during the 2nd quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after purchasing an additional 17 shares in the last quarter. Smith Shellnut Wilson LLC ADV raised its holdings in shares of Nike by 0.3% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after purchasing an additional 41 shares in the last quarter. Buckingham Asset Management LLC raised its holdings in Nike by 0.7% in the 2nd quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock worth $401,000 after acquiring an additional 45 shares during the period. Finally, Sullivan Bruyette Speros & Blaney LLC raised its holdings in Nike by 1.0% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,048 shares of the footwear maker’s stock worth $357,000 after acquiring an additional 61 shares during the period. Hedge funds and other institutional investors own 62.67% of the company’s stock.
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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.
