Nike (NYSE:NKE) received a $62.00 price target from stock analysts at Canaccord Genuity in a research report issued on Monday, Marketbeat reports. The firm currently has a “hold” rating on the footwear maker’s stock. Canaccord Genuity’s price objective points to a potential downside of 6.22% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus reiterated a “buy” rating and set a $74.00 price objective on shares of Nike in a research note on Friday, December 22nd. Macquarie set a $72.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Thursday, January 11th. Cowen set a $64.00 price objective on shares of Nike and gave the company a “hold” rating in a research note on Thursday, January 11th. UBS set a $76.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Telsey Advisory Group raised their target price on shares of Nike from $61.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, December 18th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have given a buy rating to the company’s stock. Nike currently has an average rating of “Hold” and an average price target of $68.02.

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Nike stock traded up $1.69 during midday trading on Monday, hitting $66.11. 10,139,016 shares of the stock were exchanged, compared to its average volume of 7,819,357. 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 1 year low of $50.35 and a 1 year high of $70.25. The company has a market capitalization of $107,947.40, a P/E ratio of 28.68, a PEG ratio of 3.00 and a beta of 0.68.

Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.15. Nike had a net margin of 11.13% and a return on equity of 31.64%. The firm had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $8.85 billion. During the same period last year, the firm earned $0.68 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. equities research analysts expect that Nike will post 2.26 earnings per share for the current year.

In other news, insider Eric D. Sprunk sold 100,000 shares of Nike stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total value of $6,766,000.00. Following the sale, the insider now owns 227,199 shares in the company, valued at $15,372,284.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the sale, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 912,802 shares of company stock worth $58,993,107. Company insiders own 3.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wagner Wealth Management LLC acquired a new position in Nike during the fourth quarter worth about $103,000. D.B. Root & Company LLC acquired a new position in Nike during the fourth quarter worth about $572,000. Rehmann Capital Advisory Group boosted its position in Nike by 16.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 8,409 shares of the footwear maker’s stock worth $526,000 after acquiring an additional 1,185 shares during the last quarter. KCM Investment Advisors LLC boosted its position in Nike by 0.9% during the fourth quarter. KCM Investment Advisors LLC now owns 178,275 shares of the footwear maker’s stock worth $11,151,000 after acquiring an additional 1,506 shares during the last quarter. Finally, Colonial Trust Advisors boosted its position in Nike by 22.5% during the fourth quarter. Colonial Trust Advisors now owns 170,288 shares of the footwear maker’s stock worth $10,652,000 after acquiring an additional 31,310 shares during the last quarter. Institutional investors and hedge funds own 65.65% of the company’s stock.

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Nike Company Profile

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.

Analyst Recommendations for Nike (NYSE:NKE)

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