Nike (NKE) PT Lowered to $62.00 at Canaccord Genuity
Nike (NYSE:NKE) had its price target dropped by equities research analysts at Canaccord Genuity from $64.00 to $62.00 in a note issued to investors on Monday. The firm currently has a “hold” rating on the footwear maker’s stock. Canaccord Genuity’s price objective suggests a potential downside of 2.04% from the company’s current price.
NKE has been the topic of a number of other research reports. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price objective on the stock in a research note on Wednesday, October 4th. Susquehanna Bancshares restated a “hold” rating and set a $57.00 price target on shares of Nike in a research report on Wednesday, December 13th. Instinet restated a “buy” rating and set a $62.00 price target (up previously from $59.00) on shares of Nike in a research report on Wednesday, September 27th. Zacks Investment Research upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Tuesday, December 19th. Finally, Robert W. Baird restated a “buy” rating and set a $65.00 price target on shares of Nike in a research report on Friday, November 17th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Nike currently has a consensus rating of “Hold” and an average target price of $63.52.
Shares of Nike (NKE) opened at $63.29 on Monday. Nike has a 1 year low of $50.35 and a 1 year high of $65.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. The stock has a market cap of $103,260.00, a price-to-earnings ratio of 27.40, a PEG ratio of 3.04 and a beta of 0.64.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.24%. The company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same period in the prior year, the firm posted $0.50 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. sell-side analysts forecast that Nike will post 2.28 earnings per share for the current year.
In other news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $65.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares of the company’s stock, valued at $1,511,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the sale, the chairman now directly owns 1,502,830 shares of the company’s stock, valued at approximately $97,683,950. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 290,094 shares of company stock worth $17,480,160. Corporate insiders own 3.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Asset Planning Services Ltd. grew its holdings in shares of Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the last quarter. Willingdon Wealth Management bought a new stake in shares of Nike during the third quarter worth $114,000. Atlantic Trust LLC bought a new stake in shares of Nike during the second quarter worth $136,000. Kistler Tiffany Companies LLC lifted its stake in shares of Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after acquiring an additional 1,209 shares during the period. Finally, Howe & Rusling Inc. lifted its stake in shares of Nike by 751.3% during the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after acquiring an additional 2,329 shares during the period. 62.56% of the stock is owned by institutional investors and hedge funds.
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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.
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