Nike, Inc. (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by Citigroup Inc. in a research note issued to investors on Monday, October 16th. They presently have a $65.00 price objective on the footwear maker’s stock. Citigroup Inc.’s price objective indicates a potential upside of 14.42% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. UBS AG reiterated a “buy” rating and set a $62.00 price target (down previously from $63.00) on shares of Nike in a research note on Tuesday, June 27th. Credit Suisse Group set a $63.00 price target on Nike and gave the company a “buy” rating in a research note on Saturday, June 24th. Morgan Stanley reiterated an “equal weight” rating and set a $56.00 price target on shares of Nike in a research note on Wednesday, June 21st. Nomura reissued a “buy” rating and set a $60.00 target price on shares of Nike in a research report on Friday, June 30th. Finally, Deutsche Bank AG set a $69.00 target price on shares of Nike and gave the stock a “buy” rating in a research report on Saturday, July 1st. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and nineteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $58.90.
Nike (NKE) opened at 56.81 on Monday. The firm has a market capitalization of $92.69 billion, a PE ratio of 24.18 and a beta of 0.61. The firm has a 50-day moving average price of $52.64 and a 200-day moving average price of $54.66. Nike has a 1-year low of $49.01 and a 1-year high of $60.53.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the business posted $0.73 EPS. Equities analysts expect that Nike will post $2.33 earnings per share for the current fiscal year.
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In other news, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now owns 25,660 shares in the company, valued at $1,371,527. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. bought a new position in Nike during the third quarter valued at approximately $14,700,000. BARING ASSET MANAGEMENT Ltd lifted its position in Nike by 35.1% during the third quarter. BARING ASSET MANAGEMENT Ltd now owns 62,536 shares of the footwear maker’s stock valued at $3,243,000 after purchasing an additional 16,234 shares during the period. Eagle Ridge Investment Management lifted its position in Nike by 0.8% during the third quarter. Eagle Ridge Investment Management now owns 131,377 shares of the footwear maker’s stock valued at $6,812,000 after purchasing an additional 1,091 shares during the period. Spinnaker Trust lifted its position in Nike by 2.3% during the third quarter. Spinnaker Trust now owns 50,822 shares of the footwear maker’s stock valued at $2,634,000 after purchasing an additional 1,125 shares during the period. Finally, Pictet Asset Management Ltd. lifted its position in Nike by 8.5% during the third quarter. Pictet Asset Management Ltd. now owns 1,558,658 shares of the footwear maker’s stock valued at $80,816,000 after purchasing an additional 121,687 shares during the period. Institutional investors own 62.51% of the company’s stock.
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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