Nike (NYSE:NKE) Price Target Raised to $137.00 at Citigroup

Nike (NYSE:NKE) had its price target lifted by analysts at Citigroup from $115.00 to $137.00 in a report released on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the footwear maker’s stock. Citigroup‘s target price would suggest a potential upside of 17.22% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Deutsche Bank upgraded shares of Nike from a “hold” rating to a “buy” rating and raised their price target for the company from $107.00 to $151.00 in a report on Wednesday. UBS Group set a $152.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Wednesday. Barclays increased their price objective on shares of Nike from $118.00 to $132.00 and gave the company an “overweight” rating in a research report on Friday, September 18th. Robert W. Baird increased their price objective on shares of Nike from $95.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Pivotal Research increased their price objective on shares of Nike from $118.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $123.81.

Shares of NKE stock opened at $116.87 on Wednesday. The firm has a market cap of $182.30 billion, a P/E ratio of 73.97, a PEG ratio of 3.15 and a beta of 0.83. Nike has a 1-year low of $60.00 and a 1-year high of $120.48. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.48 and a quick ratio of 1.59. The firm’s 50-day simple moving average is $109.88 and its 200-day simple moving average is $95.56.

Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 22nd. The footwear maker reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.49. Nike had a net margin of 6.79% and a return on equity of 32.95%. The business had revenue of $10.59 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the prior year, the firm posted $0.27 EPS. The company’s revenue was down .6% on a year-over-year basis. Analysts expect that Nike will post 2.32 earnings per share for the current fiscal year.

In related news, insider Heidi O’neill sold 22,000 shares of Nike stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $120.00, for a total transaction of $2,640,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew Friend sold 75,700 shares of Nike stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $119.70, for a total value of $9,061,290.00. The disclosure for this sale can be found here. Insiders sold 241,056 shares of company stock worth $26,663,725 over the last quarter. 3.80% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Stuart Chaussee & Associates Inc. grew its holdings in Nike by 668.9% during the first quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 301 shares during the period. Demars Financial Group LLC acquired a new position in Nike during the second quarter worth about $42,000. U S Global Investors Inc. acquired a new position in Nike during the second quarter worth about $53,000. Perennial Advisors LLC acquired a new position in Nike during the first quarter worth about $30,000. Finally, Bainco International Investors acquired a new position in Nike during the first quarter worth about $52,000. 64.20% 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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