Nike (NYSE:NKE) PT Raised to $134.00

Nike (NYSE:NKE) had its price objective hoisted by research analysts at BMO Capital Markets from $100.00 to $134.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the footwear maker’s stock. BMO Capital Markets’ price target indicates a potential upside of 14.66% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Pivotal Research boosted their price objective on Nike from $118.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Cowen boosted their price objective on Nike from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Wells Fargo & Company boosted their price objective on Nike from $99.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating and set a $108.00 price objective on the stock in a research report on Wednesday, June 24th. Finally, Barclays boosted their price objective on Nike from $118.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, September 18th. Three investment 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 stock currently has a consensus rating of “Buy” and a consensus target price of $123.81.

Shares of NKE opened at $116.87 on Wednesday. Nike has a 52-week low of $60.00 and a 52-week high of $120.48. The business’s fifty day moving average is $109.88 and its 200-day moving average is $95.56. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.59 and a current ratio of 2.48. The firm has a market cap of $182.30 billion, a price-to-earnings ratio of 73.97, a PEG ratio of 3.15 and a beta of 0.83.

Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 22nd. The footwear maker reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.49. Nike had a return on equity of 32.95% and a net margin of 6.79%. The company had revenue of $10.59 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the company posted $0.27 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts forecast that Nike will post 2.32 EPS for the current fiscal year.

In other Nike news, insider Heidi O’neill sold 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $120.00, for a total transaction of $2,640,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monique S. Matheson sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $108.00, for a total value of $918,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 241,056 shares of company stock worth $26,663,725. 3.80% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Beaumont Asset Management L.L.C. bought a new position in shares of Nike in the second quarter valued at approximately $384,000. Palisade Capital Management LLC NJ grew its holdings in shares of Nike by 8.8% in the second quarter. Palisade Capital Management LLC NJ now owns 35,300 shares of the footwear maker’s stock valued at $3,461,000 after acquiring an additional 2,850 shares in the last quarter. Kentucky Retirement Systems bought a new position in shares of Nike in the second quarter valued at approximately $6,769,000. Balentine LLC bought a new position in shares of Nike in the first quarter valued at approximately $128,000. Finally, Creative Financial Designs Inc. ADV bought a new position in shares of Nike in the second quarter valued at approximately $87,000. 64.20% of the stock is 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.

Further Reading: Stock Symbols Definition, Examples, Lookup

The Fly

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.