Nike (NYSE:NKE)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research report issued to clients and investors on Friday. They presently have a $74.00 price objective on the footwear maker’s stock, down from their prior price objective of $75.00. Wedbush’s price objective indicates a potential upside of 14.50% from the stock’s current price.
NKE has been the topic of a number of other research reports. Goldman Sachs set a $59.00 target price on shares of Nike and gave the company a “neutral” rating in a research note on Thursday, December 14th. HSBC cut shares of Nike from a “buy” rating to a “hold” rating and lifted their target price for the company from $58.95 to $62.00 in a research note on Tuesday, November 28th. Buckingham Research began coverage on shares of Nike in a research note on Sunday, December 31st. They set a “buy” rating and a $72.00 target price on the stock. B. Riley boosted their price target on shares of Nike from $53.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, December 22nd. Finally, Deutsche Bank set a $76.00 price target on shares of Nike and gave the stock a “buy” rating in a research note on Thursday, December 14th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $68.07.
Nike (NYSE NKE) opened at $64.63 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. Nike has a one year low of $50.35 and a one year high of $70.25. The firm has a market cap of $104,807.41, a price-to-earnings ratio of 60.97, a P/E/G ratio of 2.92 and a beta of 0.68.
In related news, insider Eric D. Sprunk sold 100,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the completion of the sale, the insider now owns 227,199 shares of the company’s stock, valued at $15,372,284.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $114,641,520. The disclosure for this sale can be found here. Insiders have sold 912,802 shares of company stock valued at $58,993,107 in the last three months. 3.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of NKE. Field & Main Bank purchased a new stake in Nike during the fourth quarter valued at approximately $100,000. Wagner Wealth Management LLC acquired a new position in Nike during the 4th quarter valued at approximately $103,000. G&S Capital LLC acquired a new position in Nike during the 4th quarter valued at approximately $112,000. Willingdon Wealth Management acquired a new position in Nike during the 3rd quarter valued at approximately $114,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in Nike during the 4th quarter valued at approximately $116,000. 65.65% of the stock is owned by institutional investors.
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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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