Nike (NYSE:NKE) has been given a $75.00 price target by analysts at Main First Bank in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the footwear maker’s stock. Main First Bank’s target price would indicate a potential upside of 18.13% from the stock’s current price.
A number of other equities research analysts also recently commented on NKE. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 target price on the stock in a research report on Wednesday, September 6th. Robert W. Baird restated a “buy” rating and issued a $65.00 target price on shares of Nike in a research report on Sunday, September 10th. Sanford C. Bernstein assumed coverage on Nike in a report on Tuesday, September 12th. They issued an “outperform” rating and a $69.00 price objective on the stock. Deutsche Bank reiterated a “buy” rating and issued a $61.00 price objective (down previously from $69.00) on shares of Nike in a report on Wednesday, September 13th. Finally, Wedbush reiterated a “neutral” rating and issued a $53.40 price objective (up previously from $52.00) on shares of Nike in a report on Thursday, September 14th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $64.06.
Nike (NYSE NKE) traded up $0.94 during midday trading on Wednesday, reaching $63.49. The company’s stock had a trading volume of 6,510,900 shares, compared to its average volume of 5,866,500. The firm has a market capitalization of $103,500.00, a price-to-earnings ratio of 27.48, a P/E/G ratio of 2.83 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. Nike has a one year low of $50.35 and a one year high of $65.18.
Nike (NYSE:NKE) last posted its earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. equities research analysts predict that Nike will post 2.25 earnings per share for the current fiscal year.
In related news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at approximately $1,511,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $7,429,050.00. Following the completion of the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 742,174 shares of company stock valued at $46,006,408. Company insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Fiduciary Trust Co. grew its holdings in Nike by 4.9% during the 2nd quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after buying an additional 10,840 shares during the last quarter. Sterling Investment Advisors Ltd. grew its holdings in Nike by 651.4% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after buying an additional 23,450 shares during the last quarter. Royal Bank of Scotland Group PLC grew its holdings 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 valued at $11,582,000 after buying an additional 12,201 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in Nike by 4.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after buying an additional 4,030 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew its holdings 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 valued at $6,118,000 after buying an additional 17,285 shares during the last quarter. 62.67% of the stock is owned by hedge funds and other institutional investors.
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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.