NIKE (NYSE:NKE) has been given a $176.00 target price by equities researchers at Credit Suisse Group in a research note issued to investors on Tuesday, Borsen Zeitung reports. Credit Suisse Group’s price objective would indicate a potential upside of 8.47% from the company’s previous close.
Several other research firms have also recently commented on NKE. BMO Capital Markets cut their price target on NIKE from $174.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, September 24th. BTIG Research lowered NIKE from a “buy” rating to a “neutral” rating in a research report on Monday, September 13th. JPMorgan Chase & Co. set a $185.00 price target on NIKE in a research report on Wednesday, December 29th. The Goldman Sachs Group set a $172.00 price target on NIKE and gave the stock a “buy” rating in a research report on Monday, December 6th. Finally, Morgan Stanley decreased their price objective on NIKE from $206.00 to $202.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, NIKE currently has a consensus rating of “Buy” and an average target price of $179.81.
NYSE:NKE opened at $162.25 on Tuesday. The firm has a market capitalization of $256.81 billion, a price-to-earnings ratio of 42.47, a PEG ratio of 3.10 and a beta of 0.92. NIKE has a 1-year low of $125.44 and a 1-year high of $179.10. The company has a current ratio of 3.07, a quick ratio of 2.33 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average price is $168.46 and its 200 day moving average price is $162.88.
NIKE (NYSE:NKE) last released its quarterly earnings results on Monday, December 20th. The footwear maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.20. The company had revenue of $11.40 billion during the quarter, compared to the consensus estimate of $11.25 billion. NIKE had a return on equity of 45.73% and a net margin of 13.32%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 EPS. Equities analysts forecast that NIKE will post 3.69 earnings per share for the current year.
In related news, CAO Hilary K. Krane sold 10,750 shares of the company’s stock in a transaction on Friday, October 15th. The shares were sold at an average price of $157.80, for a total transaction of $1,696,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 100,000 shares of the company’s stock in a transaction on Wednesday, October 13th. The stock was sold at an average price of $154.99, for a total transaction of $15,499,000.00. The disclosure for this sale can be found here. Insiders have sold 260,126 shares of company stock worth $42,122,747 in the last three months. 3.70% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Amundi purchased a new position in NIKE in the 2nd quarter worth about $615,556,000. Nordea Investment Management AB boosted its holdings in shares of NIKE by 82.7% in the 3rd quarter. Nordea Investment Management AB now owns 6,264,984 shares of the footwear maker’s stock valued at $921,015,000 after buying an additional 2,836,615 shares in the last quarter. Renaissance Technologies LLC boosted its stake in NIKE by 344.7% in the 3rd quarter. Renaissance Technologies LLC now owns 3,583,700 shares of the footwear maker’s stock worth $520,461,000 after purchasing an additional 2,777,900 shares in the last quarter. Deutsche Bank AG boosted its stake in NIKE by 39.8% in the 3rd quarter. Deutsche Bank AG now owns 5,970,740 shares of the footwear maker’s stock worth $867,130,000 after purchasing an additional 1,699,147 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in NIKE by 6.8% in the 3rd quarter. Alliancebernstein L.P. now owns 24,647,237 shares of the footwear maker’s stock worth $3,579,518,000 after purchasing an additional 1,562,707 shares in the last quarter. 64.38% of the stock is currently owned by institutional investors and hedge funds.
About NIKE
NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.
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