Nike (NKE) Given a $59.00 Price Target by Jefferies Group Analysts

Nike (NYSE:NKE) has been assigned a $59.00 price target by Jefferies Group in a research report issued on Wednesday. The firm presently has a “neutral” rating on the footwear maker’s stock. Jefferies Group’s price target points to a potential downside of 7.00% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Goldman Sachs Group cut shares of Nike from a “buy” rating to a “neutral” rating and raised their price target for the stock from $52.30 to $54.00 in a research note on Thursday, October 19th. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price target for the company in a research note on Wednesday, September 6th. Robert W. Baird restated a “buy” rating on shares of Nike in a research note on Friday, October 13th. Deutsche Bank reiterated a “buy” rating and issued a $61.00 target price (down previously from $69.00) on shares of Nike in a research note on Wednesday, September 13th. Finally, Sanford C. Bernstein started coverage on shares of Nike in a research note on Tuesday, September 12th. They issued an “outperform” rating and a $69.00 target price for the company. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $64.09.

Shares of Nike (NYSE:NKE) traded down $0.04 on Wednesday, reaching $63.44. 5,779,900 shares of the company’s stock were exchanged, compared to its average volume of 6,127,300. The company has a market capitalization of $104,630.00, a PE ratio of 27.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. Nike has a 1 year low of $50.35 and a 1 year high of $65.18.

Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. analysts expect that Nike will post 2.25 earnings per share for the current fiscal year.

In other Nike news, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the sale, the insider now owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Insiders sold a total of 967,896 shares of company stock valued at $60,257,267 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Asset Planning Services Ltd. grew its holdings in Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the period. Stearns Financial Services Group grew its holdings in shares of Nike by 0.4% in the 2nd quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after buying an additional 17 shares during the period. Smith Shellnut Wilson LLC ADV grew its holdings in shares of Nike by 0.3% in the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after buying an additional 41 shares during the period. Buckingham Asset Management LLC grew its holdings in shares of Nike by 0.7% in the 2nd quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock valued at $401,000 after buying an additional 45 shares during the period. Finally, Sullivan Bruyette Speros & Blaney LLC grew its holdings in shares of Nike by 1.0% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,048 shares of the footwear maker’s stock valued at $357,000 after buying an additional 61 shares during the period. 62.67% of the stock is owned by hedge funds and other institutional investors.

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Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Analyst Recommendations for Nike (NYSE:NKE)

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