NIKE, Inc. (NYSE:NKE) Receives $77.15 Consensus Target Price from Analysts

NIKE, Inc. (NYSE:NKE) has been given an average recommendation of “Moderate Buy” by the thirty-two analysts that are presently covering the company, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $78.22.

Several research firms recently weighed in on NKE. Morgan Stanley boosted their price objective on shares of NIKE from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. Jefferies Financial Group restated a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. The Goldman Sachs Group boosted their price objective on shares of NIKE from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. DZ Bank lowered shares of NIKE from a “buy” rating to a “hold” rating and set a $76.00 target price for the company. in a report on Thursday, July 10th. Finally, Robert W. Baird lifted their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, June 27th.

NIKE Stock Performance

NYSE:NKE opened at $76.74 on Monday. NIKE has a 1 year low of $52.28 and a 1 year high of $90.62. The firm has a 50 day moving average of $67.80 and a 200-day moving average of $67.49. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $113.34 billion, a P/E ratio of 35.53, a price-to-earnings-growth ratio of 2.88 and a beta of 1.25.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the previous year, the company posted $0.99 EPS. NIKE’s revenue was down 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stone House Investment Management LLC bought a new stake in NIKE during the 1st quarter worth about $25,000. Mascoma Wealth Management LLC bought a new stake in NIKE during the 2nd quarter worth about $26,000. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC raised its holdings in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the period. Finally, Saudi Central Bank bought a new stake in shares of NIKE in the 1st quarter valued at about $30,000. 64.25% of the stock is owned by institutional investors and hedge funds.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.