Nike (NKE) PT Set at $68.00 by Cowen

Nike (NYSE:NKE) has been assigned a $68.00 price target by stock analysts at Cowen in a research note issued on Sunday. The firm currently has a “hold” rating on the footwear maker’s stock. Cowen’s target price indicates a potential upside of 3.19% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price target on shares of Nike in a report on Friday, December 22nd. Nomura set a $74.00 price target on shares of Nike and gave the company a “buy” rating in a report on Friday. Wedbush reissued an “outperform” rating and issued a $74.00 price target (down previously from $75.00) on shares of Nike in a report on Friday. Macquarie reissued a “buy” rating and issued a $80.00 price target on shares of Nike in a report on Friday. Finally, TheStreet lowered shares of Nike from a “b+” rating to a “c+” rating in a report on Thursday, March 22nd. Four research 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 stock. The company currently has an average rating of “Hold” and a consensus price target of $68.55.

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Shares of Nike stock opened at $65.90 on Friday. The company has a market cap of $105,149.06, a price-to-earnings ratio of 62.17, a price-to-earnings-growth ratio of 2.88 and a beta of 0.68. Nike has a 1 year low of $50.35 and a 1 year high of $70.25. The company has a current ratio of 2.66, a quick ratio of 1.73 and a debt-to-equity ratio of 0.35.

Nike (NYSE:NKE) last issued its earnings results on Thursday, March 22nd. The footwear maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.53 by $0.15. The company had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $8.85 billion. Nike had a net margin of 5.11% and a return on equity of 33.38%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. equities research analysts forecast that Nike will post 2.29 earnings per share for the current fiscal year.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the sale, the chairman now owns 1,637,736 shares in the company, valued at $114,641,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John F. Slusher sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $63.09, for a total transaction of $6,309,000.00. Following the completion of the sale, the executive vice president now owns 268,169 shares in the company, valued at approximately $16,918,782.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 912,802 shares of company stock worth $58,993,107. Company insiders own 3.90% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Amalgamated Bank raised its stake in shares of Nike by 2.0% during the third quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock valued at $8,261,000 after acquiring an additional 3,189 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Nike by 3.9% during the third quarter. Stifel Financial Corp now owns 1,319,016 shares of the footwear maker’s stock valued at $68,428,000 after acquiring an additional 49,251 shares during the last quarter. Sun Life Financial INC raised its stake in shares of Nike by 23,747.5% during the second quarter. Sun Life Financial INC now owns 9,539 shares of the footwear maker’s stock valued at $563,000 after acquiring an additional 9,499 shares during the last quarter. Sather Financial Group Inc bought a new position in shares of Nike during the second quarter valued at $9,275,000. Finally, Capital Bank & Trust Co raised its stake in shares of Nike by 63.7% during the third quarter. Capital Bank & Trust Co now owns 653,742 shares of the footwear maker’s stock valued at $33,897,000 after acquiring an additional 254,372 shares during the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

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About Nike

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.

Analyst Recommendations for Nike (NYSE:NKE)

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