Nike (NYSE:NKE)‘s stock had its “buy” rating reissued by analysts at Macquarie in a report released on Tuesday. They currently have a $80.00 price target on the footwear maker’s stock. Macquarie’s price target would indicate a potential upside of 12.14% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Canaccord Genuity reaffirmed a “hold” rating and set a $62.00 target price (up previously from $60.00) on shares of Nike in a report on Sunday, March 25th. UBS set a $76.00 target price on Nike and gave the stock a “buy” rating in a report on Thursday, February 1st. Barclays set a $75.00 target price on Nike and gave the stock a “buy” rating in a report on Friday, March 23rd. Jefferies Group set a $68.00 target price on Nike and gave the stock a “neutral” rating in a report on Friday, March 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $74.00 target price (down previously from $75.00) on shares of Nike in a report on Friday, March 23rd. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have issued a buy rating to the company. Nike presently has an average rating of “Hold” and a consensus target price of $69.30.
Shares of Nike opened at $71.34 on Tuesday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.66 and a quick ratio of 1.73. The stock has a market capitalization of $116.13 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 3.42 and a beta of 0.64. Nike has a fifty-two week low of $50.35 and a fifty-two week high of $72.19.
In related news, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $70.00, for a total transaction of $3,500,000.00. Following the completion of the sale, the insider now directly owns 191,959 shares in the company, valued at $13,437,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was 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 of the company’s stock, valued at $114,641,520. The disclosure for this sale can be found here. Insiders have sold 230,000 shares of company stock valued at $16,190,000 over the last quarter. 3.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of NKE. Financial Gravity Wealth Inc. acquired a new position in Nike during the first quarter worth $277,000. Amalgamated Bank boosted its stake in Nike by 10.8% during the first quarter. Amalgamated Bank now owns 190,983 shares of the footwear maker’s stock worth $12,689,000 after buying an additional 18,584 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in Nike by 17.2% during the first quarter. Summit Trail Advisors LLC now owns 12,258 shares of the footwear maker’s stock worth $673,000 after buying an additional 1,798 shares during the last quarter. WINTON GROUP Ltd boosted its stake in Nike by 3.9% during the first quarter. WINTON GROUP Ltd now owns 101,615 shares of the footwear maker’s stock worth $6,751,000 after buying an additional 3,803 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Nike by 21.2% during the first quarter. Handelsbanken Fonder AB now owns 273,000 shares of the footwear maker’s stock worth $18,138,000 after buying an additional 47,800 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.
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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