Nike (NKE) PT Set at $72.00 by Macquarie
Nike (NYSE:NKE) has been assigned a $72.00 price target by equities research analysts at Macquarie in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the footwear maker’s stock. Macquarie’s price objective points to a potential upside of 14.38% from the stock’s previous close.
NKE has been the topic of several other reports. Bank of America set a $42.00 price objective on shares of Nike and gave the company a “sell” rating in a report on Friday, December 22nd. Morgan Stanley set a $64.00 price objective on shares of Nike and gave the company a “buy” rating in a report on Monday, September 18th. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price objective on the stock in a report on Wednesday, September 6th. Telsey Advisory Group dropped their price objective on shares of Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. Finally, Argus raised shares of Nike from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.35 to $64.46 in a report on Thursday, December 14th. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-one have issued a buy rating to the company. Nike has a consensus rating of “Hold” and an average target price of $63.75.
Nike (NYSE NKE) opened at $62.95 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. Nike has a 52 week low of $50.35 and a 52 week high of $65.18. The stock has a market cap of $102,700.00, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 2.99 and a beta of 0.64.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. The business had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. equities research analysts expect that Nike will post 2.27 earnings per share for the current fiscal year.
In other Nike news, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the transaction, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at $1,441,376. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the transaction, 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 ninety days, insiders have sold 290,094 shares of company stock worth $17,480,160. Insiders own 3.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Fiduciary Trust Co. lifted its holdings in Nike by 4.9% during the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after purchasing an additional 10,840 shares in the last quarter. Sterling Investment Advisors Ltd. raised its position in shares of Nike by 651.4% in the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after buying an additional 23,450 shares during the last quarter. Royal Bank of Scotland Group PLC raised its position in shares of Nike by 6.2% in the first quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock valued at $11,582,000 after buying an additional 12,201 shares during the last quarter. Great Lakes Advisors LLC raised its position in shares of Nike by 4.3% in the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after buying an additional 4,030 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its position in shares of Nike by 20.0% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after buying an additional 17,285 shares during the last quarter. 62.67% of the stock is currently owned by institutional investors and hedge funds.
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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