Macquarie Analysts Give Nike (NKE) a $72.00 Price Target

Nike (NYSE:NKE) received a $72.00 price target from investment analysts at Macquarie in a research note issued to investors on Thursday. The firm presently has a “buy” rating on the footwear maker’s stock. Macquarie’s price objective points to a potential upside of 12.11% from the company’s current price.

A number of other brokerages have also issued reports on NKE. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 target price on the stock in a research note on Wednesday, October 4th. Susquehanna Bancshares restated a “hold” rating and issued a $57.00 target price on shares of Nike in a research note on Wednesday, December 13th. DA Davidson upped their target price on shares of Nike from $68.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, December 26th. Barclays set a $75.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Tuesday. Finally, Buckingham Research started coverage on shares of Nike in a research note on Saturday, January 6th. They issued a “buy” rating and a $72.00 target price on the stock. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-two have given a buy rating to the stock. Nike currently has an average rating of “Hold” and an average target price of $64.14.

Shares of Nike (NYSE NKE) opened at $64.22 on Thursday. The stock has a market cap of $104,780.00, a PE ratio of 27.80, a PEG ratio of 2.90 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. Nike has a 12 month low of $50.35 and a 12 month high of $65.18.

Nike (NYSE:NKE) last issued its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 EPS. sell-side analysts forecast that Nike will post 2.25 earnings per share for the current year.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the sale, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. Insiders sold 967,896 shares of company stock worth $60,257,267 in the last 90 days. 3.90% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Asset Planning Services Ltd. boosted its holdings in shares of Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after acquiring an additional 7 shares in the last quarter. Stearns Financial Services Group boosted its holdings in shares of Nike by 0.4% in the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after acquiring an additional 17 shares in the last quarter. Smith Shellnut Wilson LLC ADV boosted its holdings in shares of Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after acquiring an additional 41 shares in the last quarter. Buckingham Asset Management LLC boosted its holdings in shares of Nike by 0.7% in the second quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock valued at $401,000 after acquiring an additional 45 shares in the last quarter. Finally, Sullivan Bruyette Speros & Blaney LLC boosted its holdings in shares of Nike by 1.0% in the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,048 shares of the footwear maker’s stock valued at $357,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 62.67% 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.

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