Nike (NYSE:NKE)‘s stock had its “buy” rating restated by research analysts at Argus in a research report issued to clients and investors on Tuesday, TipRanks reports. They presently have a $115.00 price target on the footwear maker’s stock. Argus’ price objective suggests a potential upside of 17.29% from the stock’s previous close.
A number of other equities analysts have also recently commented on the company. TheStreet cut Nike from a “b” rating to a “c+” rating in a research note on Thursday, June 25th. Deutsche Bank boosted their target price on Nike from $84.00 to $87.00 and gave the company a “hold” rating in a research note on Monday, June 15th. Morgan Stanley boosted their target price on Nike from $92.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Jefferies Financial Group boosted their target price on Nike from $83.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Finally, Sanford C. Bernstein lifted their price target on Nike from $101.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, June 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Nike currently has a consensus rating of “Buy” and a consensus price target of $108.96.
Shares of Nike stock opened at $98.05 on Tuesday. Nike has a 1 year low of $60.00 and a 1 year high of $105.62. The firm has a market cap of $145.66 billion, a PE ratio of 62.06, a P/E/G ratio of 3.05 and a beta of 0.78. The stock has a fifty day moving average price of $96.34 and a 200-day moving average price of $93.52. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.90 and a quick ratio of 1.20.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.53). Nike had a return on equity of 31.93% and a net margin of 6.79%. The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter in the prior year, the business earned $0.62 EPS. The firm’s revenue for the quarter was down 38.0% compared to the same quarter last year. As a group, equities analysts anticipate that Nike will post 2.51 EPS for the current fiscal year.
In related news, COO Andrew Campion sold 60,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $98.00, for a total transaction of $5,880,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 165,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $99.14, for a total value of $16,358,100.00. Following the sale, the chairman now owns 2,012,954 shares of the company’s stock, valued at approximately $199,564,259.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 236,000 shares of company stock valued at $23,228,100. 3.80% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Heritage Trust Co increased its position in Nike by 2.7% in the first quarter. Heritage Trust Co now owns 4,411 shares of the footwear maker’s stock worth $365,000 after buying an additional 117 shares in the last quarter. Pacer Advisors Inc. increased its position in Nike by 4.2% in the first quarter. Pacer Advisors Inc. now owns 3,031 shares of the footwear maker’s stock worth $273,000 after buying an additional 122 shares in the last quarter. Farmers Trust Co. increased its position in Nike by 0.7% in the first quarter. Farmers Trust Co. now owns 18,139 shares of the footwear maker’s stock worth $1,501,000 after buying an additional 125 shares in the last quarter. Moloney Securities Asset Management LLC increased its position in Nike by 0.9% in the first quarter. Moloney Securities Asset Management LLC now owns 14,062 shares of the footwear maker’s stock worth $1,164,000 after buying an additional 130 shares in the last quarter. Finally, ARGI Investment Services LLC increased its position in Nike by 2.9% in the fourth quarter. ARGI Investment Services LLC now owns 4,776 shares of the footwear maker’s stock worth $475,000 after buying an additional 133 shares in the last quarter. Institutional investors own 64.54% of the company’s stock.
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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