Nike (NYSE:NKE) had its price target raised by investment analysts at Deutsche Bank from $84.00 to $87.00 in a report released on Friday. The firm currently has a “buy” rating on the footwear maker’s stock. Deutsche Bank’s price objective points to a potential upside of 21.34% from the company’s previous close.
A number of other brokerages have also weighed in on NKE. Zacks Investment Research raised Nike from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, June 19th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $74.00 target price (up from $62.00) on shares of Nike in a research report on Sunday, June 10th. Macquarie set a $80.00 target price on Nike and gave the company a “buy” rating in a research report on Thursday, June 14th. UBS Group lowered Nike from a “buy” rating to a “neutral” rating and lifted their target price for the company from $76.00 to $78.00 in a research report on Thursday, June 21st. Finally, Robert W. Baird lifted their target price on Nike from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, June 21st. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.32.
Shares of Nike opened at $71.70 on Friday, according to Marketbeat. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.66 and a quick ratio of 1.73. The firm has a market cap of $116.08 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 2.57 and a beta of 0.66. Nike has a twelve month low of $50.35 and a twelve month high of $75.91.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 28th. The footwear maker reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.05. The business had revenue of $9.79 billion during the quarter, compared to analyst estimates of $9.40 billion. Nike had a return on equity of 33.38% and a net margin of 5.11%. Nike’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. research analysts expect that Nike will post 2.34 earnings per share for the current fiscal year.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $73.03, for a total transaction of $9,859,050.00. Following the sale, the chairman now owns 1,637,736 shares in the company, valued at approximately $119,603,860.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 17,000 shares of the business’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $75.00, for a total value of $1,275,000.00. Following the sale, the executive vice president now owns 95,845 shares in the company, valued at approximately $7,188,375. The disclosure for this sale can be found here. In the last quarter, insiders have sold 292,000 shares of company stock worth $21,204,500. Company insiders own 3.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Wagner Wealth Management LLC purchased a new stake in shares of Nike in the fourth quarter worth about $103,000. G&S Capital LLC purchased a new stake in shares of Nike in the fourth quarter worth about $112,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Nike in the fourth quarter worth about $116,000. Bruderman Asset Management LLC purchased a new stake in shares of Nike in the first quarter worth about $129,000. Finally, Princeton Capital Management LLC purchased a new stake in shares of Nike in the first quarter worth about $130,000. Institutional investors and hedge funds own 64.09% of the company’s stock.
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.
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