Nike (NYSE:NKE) received a $59.00 price objective from research analysts at Jefferies Group in a research report issued on Wednesday, January 3rd. The brokerage currently has a “neutral” rating on the footwear maker’s stock. Jefferies Group’s price target would suggest a potential downside of 8.67% from the stock’s current price.
A number of other research analysts have also recently issued reports on the stock. Goldman Sachs Group cut shares of Nike from a “buy” rating to a “neutral” rating and lifted their target price for the company from $52.30 to $54.00 in a research note on Thursday, October 19th. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price objective for the company in a research report on Wednesday, September 6th. Robert W. Baird restated a “buy” rating on shares of Nike in a research report on Friday, October 13th. Deutsche Bank restated a “buy” rating and issued a $61.00 price objective (down previously from $69.00) on shares of Nike in a research report on Wednesday, September 13th. Finally, Sanford C. Bernstein began coverage on shares of Nike in a research report on Tuesday, September 12th. They issued an “outperform” rating and a $69.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-one have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $64.40.
Nike (NYSE NKE) traded up $0.31 during midday trading on Wednesday, reaching $64.60. The company’s stock had a trading volume of 2,990,750 shares, compared to its average volume of 9,460,000. Nike has a 12 month low of $50.35 and a 12 month high of $65.18. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $105,360.00, a P/E ratio of 27.97, a price-to-earnings-growth ratio of 2.90 and a beta of 0.64.
Nike (NYSE:NKE) last posted its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The company had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. Nike’s quarterly revenue was up 4.6% compared to the same quarter last year. equities analysts expect that Nike will post 2.25 EPS for the current year.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the sale, the insider now directly owns 165,591 shares in the company, valued at $10,448,792.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 967,896 shares of company stock valued at $60,257,267. Company insiders own 3.90% of the company’s stock.
A number of large investors have recently modified their holdings of NKE. Janus Henderson Group PLC raised its holdings in shares of Nike by 4,252.6% in the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock valued at $980,539,000 after purchasing an additional 16,237,557 shares during the period. Capital World Investors raised its holdings in shares of Nike by 58.7% in the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after purchasing an additional 8,058,601 shares during the period. Harding Loevner LP raised its holdings in shares of Nike by 97.1% in the 3rd quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock valued at $390,421,000 after purchasing an additional 5,987,728 shares during the period. Orbis Allan Gray Ltd bought a new stake in shares of Nike in the 2nd quarter valued at about $226,588,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Nike by 25.5% in the 2nd quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock valued at $880,730,000 after purchasing an additional 3,033,280 shares during the period. 62.67% of the stock is currently owned by hedge funds and other institutional investors.
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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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