Nike (NKE) Given a $60.00 Price Target at Canaccord Genuity
Nike (NYSE:NKE) has been given a $60.00 price target by research analysts at Canaccord Genuity in a report released on Sunday. The firm currently has a “hold” rating on the footwear maker’s stock. Canaccord Genuity’s target price suggests a potential downside of 7.05% from the stock’s current price.
Other research analysts have also recently issued reports about the company. B. Riley restated a “neutral” rating on shares of Nike in a research note on Wednesday, November 1st. Stifel Nicolaus reiterated a “buy” rating and set a $74.00 price target on shares of Nike in a research report on Friday, December 22nd. FBR & Co reiterated a “hold” rating and set a $53.00 price target on shares of Nike in a research report on Thursday, September 14th. Susquehanna Bancshares reiterated a “neutral” rating and set a $64.00 price target on shares of Nike in a research report on Tuesday, September 19th. Finally, Raymond James Financial reduced their price target on Nike from $71.00 to $67.00 and set an “outperform” rating for the company in a research report on Tuesday, September 19th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $64.14.
Nike (NYSE NKE) opened at $64.55 on Friday. Nike has a 12 month low of $50.35 and a 12 month high of $65.18. The stock has a market capitalization of $105,310.00, a PE ratio of 27.94, a PEG ratio of 2.90 and a beta of 0.64. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) 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 firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same period last year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. research analysts anticipate that Nike will post 2.25 EPS for the current year.
In other Nike news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $62.00, for a total value of $620,000.00. Following the sale, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at $1,441,376. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of Nike 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 completion of the sale, the chairman now directly owns 1,637,736 shares in the company, valued at $90,124,612.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 967,896 shares of company stock worth $60,257,267. 3.90% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of NKE. Willingdon Wealth Management acquired a new stake in shares of Nike in the third quarter worth approximately $114,000. Asset Planning Services Ltd. boosted its stake in shares of Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the last quarter. Atlantic Trust LLC acquired a new stake in shares of Nike in the second quarter worth approximately $136,000. Howe & Rusling Inc. boosted its stake in shares of Nike by 751.3% in the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after acquiring an additional 2,329 shares during the last quarter. Finally, Kistler Tiffany Companies LLC boosted its stake in shares of Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after acquiring an additional 1,209 shares during the last quarter. 62.67% of the stock is currently owned by hedge funds and other 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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