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.
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.
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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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