Nike (NYSE:NKE) received a $59.00 price target from investment analysts at Jefferies Group in a report issued on Thursday. The brokerage presently has a “neutral” rating on the footwear maker’s stock. Jefferies Group’s target price indicates a potential downside of 6.27% from the company’s previous close.
A number of other equities research analysts also recently commented on NKE. Telsey Advisory Group reduced their price objective on shares of Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. Vetr cut shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 target price for the company. in a report on Monday, September 4th. Robert W. Baird reaffirmed a “buy” rating and issued a $65.00 target price on shares of Nike in a report on Sunday, September 10th. Sanford C. Bernstein initiated coverage on shares of Nike in a report on Tuesday, September 12th. They issued an “outperform” rating and a $69.00 target price for the company. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $61.00 target price (down from $69.00) on shares of Nike in a report on Wednesday, September 13th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $63.75.
Shares of Nike (NYSE:NKE) traded down $0.70 during trading hours on Thursday, reaching $62.95. 8,959,700 shares of the company were exchanged, compared to its average volume of 9,662,843. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. The firm has a market capitalization of $102,700.00, a P/E ratio of 27.25, a P/E/G ratio of 2.99 and a beta of 0.64. Nike has a 1 year low of $50.35 and a 1 year high of $65.18.
In related news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the completion of the sale, the chairman now owns 1,502,830 shares of the company’s stock, valued at approximately $97,683,950. The sale 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 business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the sale, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,094 shares of company stock valued at $17,480,160. Insiders own 3.90% of the company’s stock.
Large investors have recently made changes to their positions in the stock. King Wealth Management Group LLC boosted its stake in Nike by 8.1% during the 1st quarter. King Wealth Management Group LLC now owns 6,712 shares of the footwear maker’s stock valued at $374,000 after purchasing an additional 504 shares during the period. Westside Investment Management Inc. boosted its stake in Nike by 15.4% during the 1st quarter. Westside Investment Management Inc. now owns 3,521 shares of the footwear maker’s stock valued at $194,000 after purchasing an additional 471 shares during the period. Stephens Inc. AR boosted its stake in Nike by 15.2% during the 1st quarter. Stephens Inc. AR now owns 72,911 shares of the footwear maker’s stock valued at $4,063,000 after purchasing an additional 9,623 shares during the period. Israel Discount Bank of New York acquired a new position in Nike during the 1st quarter valued at about $764,000. Finally, WINTON GROUP Ltd boosted its stake in Nike by 2,434.9% during the 1st quarter. WINTON GROUP Ltd now owns 300,053 shares of the footwear maker’s stock valued at $15,798,000 after purchasing an additional 288,216 shares during the period. 62.67% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This news story was posted by American Market News and is the property of of American Market News. If you are accessing this news story on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/12/28/nike-nke-given-a-59-00-price-target-by-jefferies-group-analysts-2.html.
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.
