Nike (NKE) Given a $59.00 Price Target by Jefferies Group Analysts

Nike (NYSE:NKE) has been assigned a $59.00 price objective by equities research analysts at Jefferies Group in a research report issued to clients and investors on Thursday. The brokerage currently 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 current price.

Other equities research analysts have also recently issued research reports about the stock. B. Riley reiterated a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Stifel Nicolaus reiterated a “buy” rating and set a $74.00 price target on shares of Nike in a report on Friday, December 22nd. JPMorgan Chase & Co. set a $60.00 price target on shares of Nike and gave the company a “neutral” rating in a report on Wednesday. Barclays set a $71.00 price target on shares of Nike and gave the company a “buy” rating in a report on Thursday. Finally, Macquarie set a $72.00 price target on shares of Nike and gave the company a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a sell rating, nineteen 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 a consensus target price of $63.75.

Nike (NYSE:NKE) opened at $62.95 on Thursday. Nike has a one year low of $50.35 and a one year high of $65.18. The firm has a market cap of $102,700.00, a P/E ratio of 27.25, a price-to-earnings-growth 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 announced its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating the Zacks’ 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 the consensus estimate of $8.39 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. equities research analysts expect that Nike will post 2.27 EPS for the current fiscal year.

In other news, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction on Friday, December 15th. The shares were sold at an average price of $65.00, for a total transaction of $650,000.00. Following the transaction, 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 this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction on 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 transaction, the chairman now owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Insiders have sold a total of 290,094 shares of company stock worth $17,480,160 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Fiduciary Trust Co. raised its position in shares of Nike by 4.9% during the 2nd quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after purchasing an additional 10,840 shares during the period. Sterling Investment Advisors Ltd. raised its position in shares of Nike by 651.4% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after purchasing an additional 23,450 shares during the period. Royal Bank of Scotland Group PLC raised its position in shares of Nike by 6.2% during the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock valued at $11,582,000 after purchasing an additional 12,201 shares during the period. Great Lakes Advisors LLC raised its position in shares of Nike by 4.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after purchasing an additional 4,030 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its position in shares of Nike by 20.0% during the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after purchasing an additional 17,285 shares during the period. 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.

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