Cowen Analysts Give Nike (NKE) a $64.00 Price Target

Nike (NYSE:NKE) has been assigned a $64.00 price objective by stock analysts at Cowen in a report released on Thursday. The brokerage presently has a “hold” rating on the footwear maker’s stock. Cowen’s price objective would suggest a potential downside of 0.34% from the stock’s current price.

Several other research firms also recently commented on NKE. B. Riley reiterated a “neutral” rating on shares of Nike in a research report on Wednesday, November 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 target price on shares of Nike in a research report on Friday, December 22nd. Jefferies Group set a $59.00 target price on Nike and gave the company a “neutral” rating in a research report on Thursday, December 28th. JPMorgan Chase & Co. set a $58.00 target price on Nike and gave the company a “neutral” rating in a research report on Tuesday, January 2nd. Finally, Barclays set a $71.00 target price on Nike and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $64.39.

Shares of Nike (NKE) traded up $0.13 during mid-day trading on Thursday, hitting $64.22. The company had a trading volume of 5,010,600 shares, compared to its average volume of 7,957,457. 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 has a twelve month low of $50.35 and a twelve month high of $65.18. The company has a market cap of $104,450.00, a P/E ratio of 27.80, a P/E/G ratio of 2.90 and a beta of 0.64.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. During the same period in the prior year, the company earned $0.50 EPS. Nike’s revenue for the quarter was up 4.6% on a year-over-year basis. analysts anticipate that Nike will post 2.25 EPS for the current year.

In related news, EVP John F. Slusher sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $63.09, for a total transaction of $6,309,000.00. Following the completion of the sale, the executive vice president now owns 268,169 shares of the company’s stock, valued at $16,918,782.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the sale, the chairman now directly 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. Insiders have sold 967,896 shares of company stock valued at $60,257,267 in the last ninety days. 3.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. VNBTrust National Association acquired a new stake in Nike in the fourth quarter valued at approximately $232,000. Bristol John W & Co. Inc. NY grew its stake in Nike by 8.6% in the fourth quarter. Bristol John W & Co. Inc. NY now owns 1,314,749 shares of the footwear maker’s stock valued at $82,238,000 after acquiring an additional 103,696 shares during the period. Franklin Street Advisors Inc. NC grew its stake in Nike by 59.8% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 138,679 shares of the footwear maker’s stock valued at $8,674,000 after acquiring an additional 51,870 shares during the period. Gillespie Robinson & Grimm Inc. grew its stake in Nike by 6.2% in the fourth quarter. Gillespie Robinson & Grimm Inc. now owns 444,740 shares of the footwear maker’s stock valued at $27,818,000 after acquiring an additional 26,033 shares during the period. Finally, Oak Point Wealth Management acquired a new stake in Nike in the fourth quarter valued at approximately $872,000. 62.67% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Nike (NYSE:NKE)

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