Nike Inc. (NKE) Receives $62.99 Consensus PT from Analysts
Nike Inc. (NYSE:NKE) has received a consensus recommendation of “Buy” from the thirty-four brokerages that are currently covering the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $62.99.
Several equities analysts have recently commented on the company. Credit Suisse Group AG set a $60.00 target price on Nike and gave the company a “buy” rating in a research note on Friday. Barclays PLC reiterated an “overweight” rating and set a $65.00 target price on shares of Nike in a research note on Friday. Brean Capital reiterated a “hold” rating on shares of Nike in a research note on Wednesday. Vetr cut Nike from a “strong-buy” rating to a “buy” rating and set a $56.32 target price for the company. in a research note on Monday, November 7th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $53.00 target price on shares of Nike in a research note on Friday, November 4th.
In other news, Director John C. Lechleiter acquired 1,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The shares were bought at an average price of $52.72 per share, with a total value of $52,720.00. Following the acquisition, the director now owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 150,000 shares of Nike stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $49.78, for a total value of $7,467,000.00. Following the sale, the chairman now directly owns 1,985,225 shares in the company, valued at approximately $98,824,500.50. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in NKE. Springbok Capital Management LLC raised its stake in shares of Nike by 457.3% in the first quarter. Springbok Capital Management LLC now owns 2,680 shares of the footwear maker’s stock valued at $165,000 after buying an additional 3,430 shares during the last quarter. Natixis raised its stake in shares of Nike by 43.3% in the first quarter. Natixis now owns 290,539 shares of the footwear maker’s stock valued at $17,859,000 after buying an additional 87,841 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Nike during the first quarter valued at $585,000. Highland Private Wealth Management purchased a new stake in shares of Nike during the first quarter valued at $265,000. Finally, Eachwin Capital LP purchased a new stake in shares of Nike during the first quarter valued at $469,000. 62.46% of the stock is currently owned by institutional investors.
Shares of Nike (NYSE:NKE) opened at 50.77 on Wednesday. The firm’s 50-day moving average is $51.76 and its 200-day moving average is $55.22. Nike has a 12-month low of $49.01 and a 12-month high of $68.19. The firm has a market cap of $84.55 billion, a PE ratio of 22.91 and a beta of 0.48.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The company earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 earnings per share. Equities analysts expect that Nike will post $2.37 earnings per share for the current fiscal year.
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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