Nike Stock – NIKE (NYSE:NKE) price Target Cut to $170.00
NIKE (NYSE:NKE) had its price target reduced by analysts at UBS Group from $175.00 to $170.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage presently has a “buy” rating on the footwear maker’s stock. UBS Group’s price objective points to a potential upside of 28.85% from the stock’s previous close.
Several other research analysts also recently commented on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reissued a “neutral” rating and set a $140.00 target price (down previously from $160.00) on shares of NIKE in a research note on Monday, April 26th. Royal Bank of Canada began coverage on NIKE in a report on Friday, April 23rd. They issued an “outperform” rating and a $165.00 target price on the stock. Morgan Stanley reduced their target price on NIKE from $173.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, May 14th. HSBC boosted their price target on NIKE from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, March 31st. Finally, JPMorgan Chase & Co. set a $176.00 target price on NIKE and gave the stock a “buy” rating in a research report on Wednesday, April 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have issued a buy rating to the company. NIKE presently has an average rating of “Buy” and a consensus price target of $161.14.
NYSE:NKE opened at $131.94 on Monday. NIKE has a 1-year low of $93.44 and a 1-year high of $147.95. The company has a quick ratio of 2.02, a current ratio of 2.78 and a debt-to-equity ratio of 0.79. The firm has a fifty day moving average price of $133.73. The company has a market capitalization of $208.46 billion, a PE ratio of 62.24, a PEG ratio of 1.63 and a beta of 0.85.
NIKE (NYSE:NKE) last posted its quarterly earnings results on Wednesday, March 17th. The footwear maker reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.15. The business had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.98 billion. NIKE had a return on equity of 34.41% and a net margin of 8.90%. NIKE’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Research analysts predict that NIKE will post 3.13 EPS for the current year.
In other NIKE news, COO Andrew Campion sold 14,307 shares of the stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $133.20, for a total transaction of $1,905,692.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Peter B. Henry sold 3,388 shares of the firm’s stock in a transaction on Tuesday, April 20th. The stock was sold at an average price of $127.03, for a total value of $430,377.64. Following the completion of the sale, the director now directly owns 2,282 shares of the company’s stock, valued at approximately $289,882.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,821 shares of company stock worth $20,450,895. Company insiders own 3.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Eukles Asset Management purchased a new position in shares of NIKE during the 1st quarter valued at about $33,000. Oder Investment Management LLC acquired a new stake in NIKE in the 4th quarter worth about $36,000. Goodwin Investment Advisory acquired a new stake in NIKE in the 1st quarter worth about $40,000. Geo Capital Gestora de Recursos Ltd boosted its holdings in shares of NIKE by 128.4% during the 1st quarter. Geo Capital Gestora de Recursos Ltd now owns 370 shares of the footwear maker’s stock worth $49,000 after purchasing an additional 208 shares during the last quarter. Finally, Cordasco Financial Network boosted its holdings in shares of NIKE by 85.4% during the 1st quarter. Cordasco Financial Network now owns 380 shares of the footwear maker’s stock worth $50,000 after purchasing an additional 175 shares during the last quarter. Institutional investors own 64.69% of the company’s stock.
NIKE Company Profile
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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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Nike Stock – NIKE (NYSE:NKE) price Target Cut to $170.00
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