Nike (NYSE:NKE) has been given a $42.00 price target by research analysts at Bank of America in a report released on Thursday. The brokerage presently has a “sell” rating on the footwear maker’s stock. Bank of America’s price objective would suggest a potential downside of 33.14% from the company’s current price.
NKE has been the topic of several other reports. B. Riley reissued a “neutral” rating on shares of Nike in a research note on Wednesday, November 1st. Stifel Nicolaus reissued a “buy” rating and set a $74.00 price target on shares of Nike in a research note on Friday, December 22nd. FBR & Co reissued a “hold” rating and set a $53.00 price target on shares of Nike in a research note on Thursday, September 14th. Susquehanna Bancshares reissued a “neutral” rating and set a $64.00 price target on shares of Nike in a research note on Tuesday, September 19th. Finally, Raymond James Financial decreased their price target on shares of Nike from $71.00 to $67.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 19th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $63.75.
Shares of Nike (NKE) traded down $0.14 during trading on Thursday, reaching $62.81. 2,364,311 shares of the company’s stock traded hands, compared to its average volume of 9,640,140. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. The company has a market capitalization of $102,703.99, a PE ratio of 27.19, a price-to-earnings-growth ratio of 2.97 and a beta of 0.64. Nike has a 1 year low of $50.35 and a 1 year high of $65.18.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $65.00, for a total value of $8,775,000.00. Following the sale, the chairman now directly owns 1,502,830 shares in the company, valued at $97,683,950. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares in the company, valued at $1,511,120. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,094 shares of company stock worth $17,480,160. Company insiders own 3.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of NKE. Atlantic Trust Group LLC increased its position in shares of Nike by 17.0% during the third quarter. Atlantic Trust Group LLC now owns 661,487 shares of the footwear maker’s stock worth $34,298,000 after acquiring an additional 96,070 shares in the last quarter. AustralianSuper Pty Ltd increased its position in shares of Nike by 16.6% during the third quarter. AustralianSuper Pty Ltd now owns 1,955,000 shares of the footwear maker’s stock worth $101,367,000 after acquiring an additional 278,600 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Nike by 1.5% during the third quarter. Parametric Portfolio Associates LLC now owns 4,352,267 shares of the footwear maker’s stock worth $225,665,000 after acquiring an additional 64,059 shares in the last quarter. Shelton Capital Management increased its position in shares of Nike by 3.3% during the third quarter. Shelton Capital Management now owns 31,977 shares of the footwear maker’s stock worth $1,658,000 after acquiring an additional 1,009 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in shares of Nike by 51.5% during the third quarter. Chicago Partners Investment Group LLC now owns 9,220 shares of the footwear maker’s stock worth $478,000 after acquiring an additional 3,134 shares in the last quarter. Institutional investors own 62.67% of the company’s stock.
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.
