Nike (NYSE:NKE) had its price target lifted by equities researchers at Canaccord Genuity from $50.00 to $64.00 in a research note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the footwear maker’s stock. Canaccord Genuity’s price target suggests a potential upside of 0.64% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Citigroup restated a “buy” rating and issued a $74.00 target price on shares of Nike in a report on Tuesday. Buckingham Research boosted their target price on Nike from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Monday. Telsey Advisory Group boosted their target price on Nike from $61.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday. Stifel Nicolaus set a $74.00 target price on Nike and gave the stock a “buy” rating in a report on Friday, December 15th. Finally, Guggenheim restated a “buy” rating and issued a $70.00 target price on shares of Nike in a report on Friday, December 15th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.19.

Shares of Nike (NKE) opened at $63.59 on Tuesday. The stock has a market capitalization of $104,808.65, a PE ratio of 27.34, a PEG ratio of 3.02 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. Nike has a 1-year low of $50.35 and a 1-year high of $65.18.

Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period in the previous year, the company earned $0.73 EPS. The firm’s revenue was up .1% on a year-over-year basis. sell-side analysts anticipate that Nike will post 2.28 earnings per share for the current year.

In other news, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now directly owns 23,248 shares in the company, valued at $1,511,120. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the sale, the chairman now owns 1,637,736 shares in the company, valued at $90,124,612.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,094 shares of company stock valued at $17,480,160. Corporate insiders own 3.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Nike by 2.5% in the second quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock valued at $5,876,718,000 after acquiring an additional 2,452,993 shares during the period. Wellington Management Group LLP grew its position in Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after acquiring an additional 2,375,447 shares during the period. Capital Research Global Investors grew its position in Nike by 10.4% in the second quarter. Capital Research Global Investors now owns 24,135,396 shares of the footwear maker’s stock valued at $1,423,988,000 after acquiring an additional 2,274,869 shares during the period. Capital World Investors grew its position in Nike by 58.7% in the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after acquiring an additional 8,058,601 shares during the period. Finally, Northern Trust Corp grew its position in Nike by 6.7% in the second quarter. Northern Trust Corp now owns 21,502,892 shares of the footwear maker’s stock valued at $1,268,671,000 after acquiring an additional 1,344,638 shares during the period. Institutional investors and hedge funds own 62.56% of the company’s stock.

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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.

Analyst Recommendations for Nike (NYSE:NKE)

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