Nike (NKE) PT Set at $72.00 by Macquarie

Nike (NYSE:NKE) has been given a $72.00 price objective by investment analysts at Macquarie in a research note issued on Thursday. The brokerage presently has a “buy” rating on the footwear maker’s stock. Macquarie’s target price points to a potential upside of 14.38% from the stock’s current price.

Other analysts have also issued reports about the stock. Vetr lowered shares of Nike from a “strong-buy” rating to a “buy” rating and set a $58.87 target price for the company. in a research note on Tuesday, September 12th. Robert W. Baird reissued a “buy” rating and set a $65.00 target price on shares of Nike in a research note on Sunday, September 10th. Deutsche Bank restated a “buy” rating and set a $61.00 price target (down previously from $69.00) on shares of Nike in a report on Wednesday, September 13th. DA Davidson restated a “buy” rating and set a $69.00 price target on shares of Nike in a report on Thursday, September 14th. Finally, Morgan Stanley set a $64.00 price target on shares of Nike and gave the company a “buy” rating in a report on Monday, September 18th. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-one have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $63.75.

Nike (NKE) traded down $0.70 during mid-day trading on Thursday, reaching $62.95. 8,959,700 shares of the company traded hands, compared to its average volume of 9,662,843. Nike has a fifty-two week low of $50.35 and a fifty-two week high of $65.18. The firm has a market capitalization of $102,700.00, a price-to-earnings ratio of 27.25, a PEG ratio of 2.99 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 released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating 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 business had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same period in the prior year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 4.6% on a year-over-year basis. equities analysts forecast that Nike will post 2.27 earnings per share for the current year.

In related news, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $65.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares in the company, valued at approximately $1,511,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $7,429,050.00. Following 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 290,094 shares of company stock valued at $17,480,160. Corporate insiders own 3.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in NKE. Janus Henderson Group PLC increased its position in shares of Nike by 4,252.6% during the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after purchasing an additional 16,237,557 shares in the last quarter. Capital World Investors increased its position in Nike by 58.7% in the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after acquiring an additional 8,058,601 shares in the last quarter. Harding Loevner LP increased its position in Nike by 97.1% in the 3rd quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock valued at $390,421,000 after acquiring an additional 5,987,728 shares in the last quarter. Orbis Allan Gray Ltd acquired a new stake in Nike in the 2nd quarter valued at about $226,588,000. Finally, Alliancebernstein L.P. increased its position in Nike by 25.5% in the 2nd quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock valued at $880,730,000 after acquiring an additional 3,033,280 shares in the last quarter. Institutional investors and hedge funds own 62.67% 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.