Nike (NYSE:NKE) PT Set at $106.00 by Stifel Nicolaus

Nike (NYSE:NKE) received a $106.00 price objective from stock analysts at Stifel Nicolaus in a research note issued on Friday, TipRanks reports. The firm currently has a “buy” rating on the footwear maker’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 11.68% from the stock’s current price.

NKE has been the topic of a number of other reports. Exane BNP Paribas started coverage on Nike in a research note on Friday, October 4th. They issued an “underperform” rating and a $82.00 price target on the stock. Pivotal Research raised their price target on Nike from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Macquarie set a $89.00 price target on Nike and gave the company a “buy” rating in a research note on Friday, June 28th. Canaccord Genuity restated a “buy” rating and issued a $96.00 price target on shares of Nike in a research note on Wednesday, June 19th. Finally, Argus raised their price objective on Nike from $94.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $96.77.

Nike stock traded up $1.03 during midday trading on Friday, reaching $94.91. The company’s stock had a trading volume of 305,913 shares, compared to its average volume of 7,239,301. Nike has a fifty-two week low of $66.53 and a fifty-two week high of $94.75. The company has a quick ratio of 1.29, a current ratio of 2.01 and a debt-to-equity ratio of 0.67. The company has a market cap of $145.18 billion, a P/E ratio of 38.13, a P/E/G ratio of 2.47 and a beta of 0.85. The business has a 50-day simple moving average of $88.07 and a 200-day simple moving average of $85.38.

Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.15. Nike had a return on equity of 47.92% and a net margin of 10.81%. The company had revenue of $10.66 billion for the quarter, compared to analysts’ expectations of $10.43 billion. During the same period last year, the firm earned $0.67 earnings per share. Nike’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that Nike will post 2.97 earnings per share for the current year.

In related news, EVP John F. Slusher sold 110,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $85.26, for a total transaction of $9,378,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark G. Parker sold 165,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $93.42, for a total value of $15,414,300.00. Following the transaction, the chief executive officer now directly owns 2,054,511 shares in the company, valued at approximately $191,932,417.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 505,579 shares of company stock worth $45,961,980. Corporate insiders own 3.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Nuveen Asset Management LLC grew its holdings in shares of Nike by 6,608.4% during the second quarter. Nuveen Asset Management LLC now owns 14,363,870 shares of the footwear maker’s stock worth $1,205,847,000 after buying an additional 14,149,753 shares during the last quarter. FMR LLC grew its holdings in shares of Nike by 27.0% during the first quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock worth $1,943,374,000 after buying an additional 4,908,916 shares during the last quarter. Jennison Associates LLC boosted its holdings in Nike by 13.6% in the 2nd quarter. Jennison Associates LLC now owns 23,510,331 shares of the footwear maker’s stock valued at $1,973,692,000 after purchasing an additional 2,809,878 shares in the last quarter. BlackRock Inc. boosted its holdings in Nike by 2.2% in the 2nd quarter. BlackRock Inc. now owns 87,672,220 shares of the footwear maker’s stock valued at $7,360,079,000 after purchasing an additional 1,883,150 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Nike by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 105,374,269 shares of the footwear maker’s stock valued at $8,846,169,000 after purchasing an additional 1,469,583 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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