Nike (NKE) PT Raised to $61.00 at B. Riley

Nike (NYSE:NKE) had its price target increased by equities research analysts at B. Riley from $53.00 to $61.00 in a research report issued to clients and investors on Saturday. The firm currently has a “neutral” rating on the footwear maker’s stock. B. Riley’s target price indicates a potential downside of 2.48% from the stock’s current price.

Several other brokerages also recently weighed in on NKE. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 target price on the stock in a research note on Wednesday, October 4th. Susquehanna Bancshares reaffirmed a “hold” rating and set a $57.00 target price on shares of Nike in a research note on Wednesday, December 13th. DA Davidson upped their target price on shares of Nike from $68.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday. Canaccord Genuity reaffirmed a “hold” rating and set a $50.00 target price (down from $51.00) on shares of Nike in a research note on Wednesday, September 27th. Finally, Instinet reaffirmed a “buy” rating and set a $62.00 target price (up from $59.00) 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 assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $63.75.

Shares of Nike (NYSE NKE) opened at $62.55 on Friday. Nike has a 52 week low of $50.35 and a 52 week high of $65.18. The firm has a market cap of $102,703.99, a P/E ratio of 27.08, a P/E/G ratio of 2.85 and a beta of 0.64. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30.

Nike (NYSE:NKE) last announced its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same period in the prior year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. analysts predict that Nike will post 2.25 earnings per share for the current year.

In related news, insider Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the sale, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now 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. In the last 90 days, insiders sold 516,134 shares of company stock valued at $31,743,284. Company insiders own 3.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Fiduciary Trust Co. raised its position in Nike by 4.9% in the 2nd quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after purchasing an additional 10,840 shares during the last quarter. Sterling Investment Advisors Ltd. raised its position in Nike by 651.4% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock worth $1,596,000 after buying an additional 23,450 shares during the last quarter. Royal Bank of Scotland Group PLC raised its position in Nike by 6.2% during the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock worth $11,582,000 after buying an additional 12,201 shares during the last quarter. Great Lakes Advisors LLC raised its position in Nike by 4.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock worth $5,732,000 after buying an additional 4,030 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its position in Nike by 20.0% during the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock worth $6,118,000 after buying an additional 17,285 shares during the last quarter. 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.