Nike (NKE) Price Target Increased to $80.00 by Analysts at Stifel Nicolaus

Nike (NYSE:NKE) had its price target hoisted by investment analysts at Stifel Nicolaus from $74.00 to $80.00 in a research report issued on Friday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the footwear maker’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 17.13% from the stock’s current price.

A number of other research firms have also weighed in on NKE. Citigroup reissued a “buy” rating and set a $78.00 price objective (up previously from $74.00) on shares of Nike in a research note on Wednesday, January 31st. Susquehanna Bancshares reissued a “hold” rating and set a $57.00 price objective on shares of Nike in a research note on Wednesday, December 13th. DA Davidson boosted their price objective on Nike from $68.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, December 26th. Barclays set a $75.00 price objective on Nike and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Finally, Vetr raised Nike from a “hold” rating to a “buy” rating and set a $58.95 price objective on the stock in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.61.

Shares of Nike (NKE) opened at $68.30 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. The stock has a market capitalization of $111,103.66, a P/E ratio of 29.56, a PEG ratio of 3.09 and a beta of 0.68. Nike has a 12 month low of $50.35 and a 12 month high of $69.00.

Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. research analysts predict that Nike will post 2.26 EPS for the current fiscal year.

In related news, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the sale, the insider now owns 165,591 shares in the company, 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 link. Also, insider Eric D. Sprunk sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total value of $6,766,000.00. Following the completion of the sale, the insider now owns 227,199 shares in the company, valued at approximately $15,372,284.34. The disclosure for this sale can be found here. Insiders sold a total of 932,896 shares of company stock worth $59,594,217 in the last quarter. Company insiders own 3.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Buckingham Asset Management LLC increased its holdings in Nike by 0.7% during the 2nd quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock worth $401,000 after purchasing an additional 45 shares during the period. Sullivan Bruyette Speros & Blaney LLC increased its holdings in Nike by 1.0% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,048 shares of the footwear maker’s stock worth $357,000 after purchasing an additional 61 shares during the period. YorkBridge Wealth Partners LLC increased its holdings in Nike by 0.3% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 26,169 shares of the footwear maker’s stock worth $1,535,000 after purchasing an additional 68 shares during the period. Parallel Advisors LLC increased its holdings in Nike by 0.6% during the 2nd quarter. Parallel Advisors LLC now owns 12,831 shares of the footwear maker’s stock worth $758,000 after purchasing an additional 76 shares during the period. Finally, Keel Point LLC increased its holdings in Nike by 1.2% during the 2nd quarter. Keel Point LLC now owns 9,757 shares of the footwear maker’s stock worth $576,000 after purchasing an additional 119 shares during the period. Institutional investors own 62.65% of the company’s stock.

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About Nike

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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