Nike (NYSE:NKE)‘s stock had its “outperform” rating reissued by investment analysts at Telsey Advisory Group in a research report issued on Monday, Marketbeat reports. They currently have a $77.00 target price on the footwear maker’s stock, up from their prior target price of $71.00. Telsey Advisory Group’s target price points to a potential upside of 16.33% from the company’s previous close.
NKE has been the topic of several other research reports. Goldman Sachs set a $59.00 target price on Nike and gave the stock a “neutral” rating in a research report on Thursday, December 14th. HSBC lowered Nike from a “buy” rating to a “hold” rating and boosted their price target for the stock from $58.95 to $62.00 in a research note on Tuesday, November 28th. Buckingham Research assumed coverage on Nike in a research note on Sunday, December 31st. They set a “buy” rating and a $72.00 price target on the stock. B. Riley boosted their price target on Nike from $53.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, December 22nd. Finally, Deutsche Bank set a $76.00 price target on Nike and gave the stock a “buy” rating in a research note on Thursday, December 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have given a buy rating to the company. Nike has an average rating of “Buy” and a consensus price target of $66.34.
Nike stock traded up $0.28 during midday trading on Monday, reaching $66.19. The company’s stock had a trading volume of 1,714,854 shares, compared to its average volume of 7,638,634. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. Nike has a 52 week low of $50.35 and a 52 week high of $70.25. The firm has a market cap of $107,231.55, a PE ratio of 28.68, a price-to-earnings-growth ratio of 2.98 and a beta of 0.68.
Nike (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. research analysts predict that Nike will post 2.26 earnings per share for the current year.
In related news, EVP John F. Slusher sold 100,000 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $63.09, for a total value of $6,309,000.00. Following the completion of the sale, the executive vice president now directly owns 268,169 shares in the company, valued at approximately $16,918,782.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the sale, the chief operating officer now owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 912,802 shares of company stock valued at $58,993,107. 3.90% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in Nike by 2.0% in the third quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock worth $8,261,000 after acquiring an additional 3,189 shares during the last quarter. Stifel Financial Corp lifted its holdings in Nike by 3.9% in the third quarter. Stifel Financial Corp now owns 1,319,016 shares of the footwear maker’s stock worth $68,428,000 after acquiring an additional 49,251 shares during the last quarter. Sun Life Financial INC lifted its holdings in Nike by 23,747.5% in the second quarter. Sun Life Financial INC now owns 9,539 shares of the footwear maker’s stock worth $563,000 after acquiring an additional 9,499 shares during the last quarter. Sather Financial Group Inc bought a new position in Nike in the second quarter worth about $9,275,000. Finally, Capital Bank & Trust Co lifted its holdings in Nike by 63.7% in the third quarter. Capital Bank & Trust Co now owns 653,742 shares of the footwear maker’s stock worth $33,897,000 after acquiring an additional 254,372 shares during the last quarter. Institutional investors own 65.65% of the company’s stock.
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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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