UBS Group Reiterates “$76.00” Price Target for Nike (NKE)

Nike (NYSE:NKE) received a $76.00 target price from investment analysts at UBS Group in a research report issued to clients and investors on Thursday, www.boersen-zeitung.de reports. The brokerage currently has a “buy” rating on the footwear maker’s stock. UBS Group’s price target would indicate a potential upside of 12.46% from the company’s previous close.

NKE has been the subject of several other reports. B. Riley reissued a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price objective on shares of Nike in a report on Friday, December 22nd. Cowen set a $64.00 price objective on Nike and gave the company a “hold” rating in a report on Thursday, January 11th. Macquarie set a $72.00 price objective on Nike and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Oppenheimer raised Nike to a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $65.37.

Shares of Nike (NYSE NKE) traded down $0.64 during midday trading on Thursday, hitting $67.58. The stock had a trading volume of 4,208,964 shares, compared to its average volume of 7,340,052. Nike has a twelve month low of $50.35 and a twelve month high of $68.83. The stock has a market capitalization of $110,600.00, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 3.05 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46.

Nike (NYSE:NKE) last announced its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. research analysts expect that Nike will post 2.25 EPS for the current fiscal year.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $65.00, for a total value of $8,775,000.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was 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 of the company’s stock, valued at $10,448,792.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 932,896 shares of company stock valued at $59,594,217. Insiders own 3.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trillium Asset Management LLC lifted its position in shares of Nike by 0.4% during the 4th quarter. Trillium Asset Management LLC now owns 309,172 shares of the footwear maker’s stock valued at $19,339,000 after acquiring an additional 1,222 shares during the last quarter. Parametrica Management Ltd acquired a new stake in shares of Nike during the 4th quarter valued at $263,000. Front Row Advisors LLC acquired a new stake in shares of Nike during the 4th quarter valued at $471,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Nike during the 4th quarter valued at $221,000. Finally, Horan Capital Management lifted its position in shares of Nike by 10.6% during the 4th quarter. Horan Capital Management now owns 47,040 shares of the footwear maker’s stock valued at $2,942,000 after acquiring an additional 4,508 shares during the last quarter. Hedge funds and other institutional investors own 62.97% of the company’s stock.

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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.

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