Nike (NYSE:NKE) has been given a $112.00 target price by investment analysts at Credit Suisse Group in a note issued to investors on Friday, Borsen Zeitung reports. The brokerage presently has a “buy” rating on the footwear maker’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 14.61% from the stock’s previous close.
NKE has been the subject of a number of other reports. ValuEngine lowered shares of Nike from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Deutsche Bank set a $105.00 price objective on Nike and gave the stock a “buy” rating in a research note on Monday, October 7th. Bank of America restated a “neutral” rating and issued a $105.00 price objective (up from $98.00) on shares of Nike in a research note on Tuesday. JPMorgan Chase & Co. set a $105.00 price objective on Nike and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Piper Jaffray Companies upped their price objective on Nike from $97.00 to $101.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $98.75.
Shares of NKE opened at $97.72 on Friday. The firm has a market cap of $150.84 billion, a PE ratio of 39.24, a P/E/G ratio of 2.49 and a beta of 0.83. The company has a current ratio of 2.01, a quick ratio of 1.29 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $92.52 and a two-hundred day simple moving average of $87.73. Nike has a 1-year low of $66.53 and a 1-year high of $98.18.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.15. The business had revenue of $10.66 billion during the quarter, compared to analyst estimates of $10.43 billion. Nike had a net margin of 10.81% and a return on equity of 47.92%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. As a group, research analysts forecast that Nike will post 2.97 EPS for the current fiscal year.
In related news, CEO Mark G. Parker sold 165,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $93.42, for a total value of $15,414,300.00. Following the completion of the transaction, the chief executive officer now owns 2,054,511 shares of the company’s stock, valued at approximately $191,932,417.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Hilary K. Krane sold 32,500 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $89.30, for a total transaction of $2,902,250.00. The disclosure for this sale can be found here. Insiders sold a total of 592,374 shares of company stock valued at $54,907,589 in the last ninety days. 3.80% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of NKE. Garrett Wealth Advisory Group LLC bought a new position in shares of Nike during the 3rd quarter valued at about $26,000. Marquette Asset Management LLC bought a new position in shares of Nike during the 3rd quarter valued at about $28,000. KCS Wealth Advisory bought a new position in shares of Nike during the 3rd quarter valued at about $38,000. Fulcrum Capital LLC bought a new position in shares of Nike during the 3rd quarter valued at about $12,862,000. Finally, Bourgeon Capital Management LLC bought a new position in shares of Nike during the 3rd quarter valued at about $41,000. 65.16% of the stock is owned by institutional investors.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
Featured Article: What is an investor looking for in an SEC filing?
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.