Nike (NKE) PT Set at $59.00 by Goldman Sachs Group
Nike (NYSE:NKE) has been assigned a $59.00 price target by equities researchers at Goldman Sachs Group in a note issued to investors on Thursday. The firm presently has a “neutral” rating on the footwear maker’s stock. Goldman Sachs Group’s price objective points to a potential downside of 8.94% from the stock’s previous close.
Several other research analysts have also commented on the company. Argus raised Nike from a “hold” rating to a “buy” rating and raised their price objective for the company from $50.35 to $64.46 in a research report on Thursday. Wedbush reissued a “hold” rating and issued a $57.00 price objective (up from $52.00) on shares of Nike in a research report on Thursday. DA Davidson set a $68.00 price objective on Nike and gave the company a “buy” rating in a research report on Thursday. Vetr downgraded Nike from a “hold” rating to a “sell” rating and set a $59.88 target price for the company. in a research note on Thursday. Finally, Susquehanna Bancshares restated a “hold” rating and set a $57.00 target price on shares of Nike in a research note on Wednesday. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $60.67.
Nike (NYSE NKE) opened at $64.79 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81. Nike has a 52-week low of $50.35 and a 52-week high of $65.07. The company has a market capitalization of $105,281.79, a PE ratio of 27.46, a price-to-earnings-growth ratio of 3.02 and a beta of 0.64.
In related news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated 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 transaction, the chairman now directly owns 1,637,736 shares in the company, valued at $90,124,612.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the transaction, the executive vice president now owns 23,248 shares of the company’s stock, valued at $1,441,376. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Asset Planning Services Ltd. boosted its stake in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after acquiring an additional 7 shares during the period. Stearns Financial Services Group boosted its stake in Nike by 0.4% in the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after acquiring an additional 17 shares during the period. Accredited Investors Inc. boosted its stake in Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after acquiring an additional 19 shares during the period. Smith Shellnut Wilson LLC ADV boosted its stake in Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after acquiring an additional 41 shares during the period. Finally, Buckingham Asset Management LLC boosted its stake in Nike by 0.7% in the second quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock valued at $401,000 after acquiring an additional 45 shares during the period. Institutional investors own 62.78% of the company’s stock.
WARNING: This piece of content was originally reported by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.watchlistnews.com/nike-nke-pt-set-at-59-00-by-goldman-sachs-group/1767710.html.
Nike Company Profile
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.
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.