Nike (NKE) Given New $90.00 Price Target at Stifel Nicolaus

Nike (NYSE:NKE) had its price target lifted by stock analysts at Stifel Nicolaus from $87.00 to $90.00 in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the footwear maker’s stock. Stifel Nicolaus’ target price indicates a potential upside of 25.52% from the company’s current price.

A number of other brokerages also recently issued reports on NKE. Credit Suisse Group reiterated a “buy” rating and set a $78.00 price objective on shares of Nike in a research note on Thursday, June 14th. Guggenheim reissued a “buy” rating and issued a $78.00 target price on shares of Nike in a report on Friday, March 23rd. UBS Group cut shares of Nike from a “buy” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $78.00 in a report on Thursday, June 21st. DZ Bank reissued a “sell” rating on shares of Nike in a report on Friday. Finally, Wedbush increased their target price on shares of Nike from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $74.32.

Shares of Nike opened at $71.70 on Friday, MarketBeat Ratings reports. The stock 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. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.73 and a current ratio of 2.66. Nike has a 12-month low of $50.35 and a 12-month high of $75.91.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 28th. The footwear maker reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $9.79 billion for the quarter, compared to the consensus estimate of $9.40 billion. Nike had a net margin of 5.11% and a return on equity of 33.38%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. analysts predict that Nike will post 2.34 EPS for the current fiscal year.

In other news, insider Eric D. Sprunk sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $70.00, for a total transaction of $3,500,000.00. Following the completion of the sale, the insider now owns 191,959 shares of the company’s stock, valued at approximately $13,437,130. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Monique S. Matheson sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $75.00, for a total transaction of $1,275,000.00. Following the sale, the executive vice president now directly owns 95,845 shares of the company’s stock, valued at approximately $7,188,375. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 292,000 shares of company stock valued at $21,204,500. Company insiders own 3.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Wagner Wealth Management LLC acquired a new stake in shares of Nike during the 4th quarter worth approximately $103,000. G&S Capital LLC acquired a new stake in shares of Nike during the 4th quarter worth approximately $112,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Nike during the 4th quarter worth approximately $116,000. Bruderman Asset Management LLC acquired a new stake in shares of Nike during the 1st quarter worth approximately $129,000. Finally, Princeton Capital Management LLC acquired a new stake in shares of Nike during the 1st quarter worth approximately $130,000. 64.09% of the stock is owned by institutional investors.

Nike Company Profile

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.

Analyst Recommendations for Nike (NYSE:NKE)

Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply