Nike (NKE) Price Target Raised to $61.00

Nike (NYSE:NKE) had its price objective boosted by analysts at B. Riley from $53.00 to $61.00 in a research note issued on Friday. The brokerage presently has a “neutral” rating on the footwear maker’s stock. B. Riley’s price target indicates a potential downside of 5.82% from the stock’s current price.

Several other analysts have also weighed in on the stock. Jefferies Group lowered shares of Nike to a “buy” rating in a research note on Tuesday, August 29th. Vetr lowered shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 target price for the company. in a research note on Monday, September 4th. Goldman Sachs Group lowered shares of Nike from a “buy” rating to a “neutral” rating and boosted their target price for the company from $52.30 to $54.00 in a research note on Thursday, October 19th. Telsey Advisory Group lowered their target price on shares of Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $66.00 target price on shares of Nike in a research note on Thursday, August 24th. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $62.88.

Shares of Nike (NYSE:NKE) opened at $64.77 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29. Nike has a 12 month low of $50.35 and a 12 month high of $65.18. The firm has a market cap of $103,748.16, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 2.99 and a beta of 0.64.

Nike (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.47% and a return on equity of 31.88%. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. equities research analysts forecast that Nike will post 2.28 EPS for the current year.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were 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 directly owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s 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 directly owns 23,248 shares of the company’s stock, valued at $1,511,120. The disclosure for this sale can be found here. Insiders sold a total of 290,094 shares of company stock valued at $17,480,160 over the last three months. 3.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Willingdon Wealth Management purchased a new stake in Nike during the third quarter valued at about $114,000. Asset Planning Services Ltd. lifted its stake in Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after buying an additional 7 shares in the last quarter. Atlantic Trust LLC purchased a new stake in Nike during the second quarter valued at about $136,000. Howe & Rusling Inc. lifted its stake in Nike by 751.3% during the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after buying an additional 2,329 shares in the last quarter. Finally, Kistler Tiffany Companies LLC lifted its stake in Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after buying an additional 1,209 shares in the last quarter. 62.56% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: This news story was posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://www.com-unik.info/2017/12/22/nike-nke-price-target-raised-to-61-00.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.

Analyst Recommendations for Nike (NYSE:NKE)

What are top analysts saying about Nike? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Nike and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit