Analysts at Credit Suisse Group started coverage on shares of Nike (NYSE:NKE) in a research report issued on Monday. The brokerage set an “outperform” rating and a $78.00 price target on the footwear maker’s stock. Credit Suisse Group’s price target would suggest a potential upside of 16.73% from the stock’s current price.
NKE has been the topic of a number of other reports. Goldman Sachs Group set a $59.00 target price on Nike and gave the stock a “neutral” rating in a research report on Thursday, December 14th. HSBC downgraded Nike from a “buy” rating to a “hold” rating and boosted their target price for the stock from $58.95 to $62.00 in a research report on Tuesday, November 28th. Buckingham Research assumed coverage on Nike in a research report on Sunday, December 31st. They issued a “buy” rating and a $72.00 target price on the stock. B. Riley boosted their target price on Nike from $53.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, December 22nd. Finally, Deutsche Bank set a $76.00 target price on Nike and gave the stock a “buy” rating in a research report on Thursday, December 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $66.10.
Shares of Nike (NKE) traded up $0.52 during trading on Monday, hitting $66.82. The stock had a trading volume of 7,521,645 shares, compared to its average volume of 7,804,375. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $108,400.00, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 3.00 and a beta of 0.68. Nike has a fifty-two week low of $50.35 and a fifty-two week high of $70.25.
In related news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $70.00, for a total value of $9,450,000.00. Following the completion of the sale, the chairman now owns 1,637,736 shares in the company, valued at $114,641,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric D. Sprunk sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total value of $6,766,000.00. Following the completion of the sale, the insider now owns 227,199 shares of the company’s stock, valued at approximately $15,372,284.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,057,896 shares of company stock worth $68,424,217. Insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wagner Wealth Management LLC purchased a new stake in shares of Nike in the fourth quarter valued at approximately $103,000. D.B. Root & Company LLC purchased a new stake in Nike during the fourth quarter worth $572,000. Rehmann Capital Advisory Group lifted its holdings in Nike by 16.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 8,409 shares of the footwear maker’s stock worth $526,000 after buying an additional 1,185 shares during the period. KCM Investment Advisors LLC lifted its holdings in Nike by 0.9% during the fourth quarter. KCM Investment Advisors LLC now owns 178,275 shares of the footwear maker’s stock worth $11,151,000 after buying an additional 1,506 shares during the period. Finally, Colonial Trust Advisors lifted its holdings in Nike by 22.5% during the fourth quarter. Colonial Trust Advisors now owns 170,288 shares of the footwear maker’s stock worth $10,652,000 after buying an additional 31,310 shares during the period. Hedge funds and other institutional investors own 65.76% of the company’s stock.
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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.
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