Nike (NYSE:NKE) received a $59.00 price objective from equities researchers at Goldman Sachs Group in a research note issued on Thursday. The firm presently has a “neutral” rating on the footwear maker’s stock. Goldman Sachs Group’s price target would suggest a potential downside of 8.24% from the company’s previous close.
Other analysts have also issued research reports about the company. B. Riley reissued a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Susquehanna Bancshares reissued a “hold” rating and issued a $57.00 target price on shares of Nike in a report on Wednesday. Vetr lowered Nike from a “hold” rating to a “sell” rating and set a $59.88 target price on the stock. in a report on Thursday. DA Davidson set a $68.00 target price on Nike and gave the company a “buy” rating in a report on Thursday. Finally, Wedbush reissued a “neutral” rating and issued a $57.00 target price (up previously from $52.00) on shares of Nike in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $60.14.
Nike (NYSE:NKE) traded up $2.13 during trading on Thursday, reaching $64.30. The company’s stock had a trading volume of 16,072,500 shares, compared to its average volume of 9,565,464. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81. The firm has a market capitalization of $105,440.00, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.91 and a beta of 0.64. Nike has a 12 month low of $50.35 and a 12 month high of $64.46.
In other news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the sale, the chairman now owns 1,637,736 shares in the company, valued at $90,124,612.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of NKE. Willingdon Wealth Management acquired a new stake in Nike during the 3rd quarter valued at approximately $114,000. Asset Planning Services Ltd. grew its stake in Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after purchasing an additional 7 shares in the last quarter. Atlantic Trust LLC acquired a new stake in Nike during the 2nd quarter valued at approximately $136,000. Howe & Rusling Inc. grew its stake in Nike by 751.3% during the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Kistler Tiffany Companies LLC grew its stake in Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after purchasing an additional 1,209 shares in the last quarter. Institutional investors and hedge funds own 62.78% 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.
