Barclays Increases Nike (NYSE:NKE) Price Target to $118.00

Nike (NYSE:NKE) had its target price increased by Barclays from $92.00 to $118.00 in a research note issued to investors on Friday morning, Borsen Zeitung reports. They currently have an overweight rating on the footwear maker’s stock.

A number of other equities analysts also recently weighed in on NKE. Wells Fargo & Co boosted their target price on Nike from $99.00 to $110.00 and gave the stock an overweight rating in a research note on Friday. UBS Group upped their price objective on Nike from $114.00 to $122.00 and gave the company a buy rating in a research note on Monday, June 22nd. Goldman Sachs Group reiterated a buy rating and issued a $110.00 price objective (up previously from $96.00) on shares of Nike in a research note on Friday. BTIG Research upped their price objective on Nike from $108.00 to $117.00 and gave the company a buy rating in a research note on Tuesday, June 23rd. Finally, Zacks Investment Research upgraded Nike from a sell rating to a hold rating and set a $108.00 price objective on the stock in a research note on Wednesday, June 24th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $108.96.

Shares of NYSE NKE opened at $95.87 on Friday. Nike has a twelve month low of $60.00 and a twelve month high of $105.62. The stock’s 50 day moving average price is $96.23 and its 200-day moving average price is $93.53. The company has a market capitalization of $148.25 billion, a PE ratio of 60.68, a PEG ratio of 3.05 and a beta of 0.78. The company has a quick ratio of 1.20, a current ratio of 1.90 and a debt-to-equity ratio of 0.69.

Nike (NYSE:NKE) last announced its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.53). Nike had a return on equity of 31.93% and a net margin of 6.79%. The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $7.26 billion. During the same quarter in the previous year, the firm earned $0.62 EPS. Nike’s quarterly revenue was down 38.0% on a year-over-year basis. As a group, research analysts expect that Nike will post 2.51 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.245 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 annualized dividend and a dividend yield of 1.02%. Nike’s payout ratio is currently 52.97%.

In other news, Director John W. Rogers, Jr. bought 1,000 shares of Nike stock in a transaction that occurred on Friday, April 3rd. The shares were acquired at an average price of $84.63 per share, with a total value of $84,630.00. Following the completion of the purchase, the director now directly owns 12,851 shares in the company, valued at $1,087,580.13. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 165,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $99.14, for a total value of $16,358,100.00. Following the completion of the transaction, the chairman now directly owns 2,012,954 shares in the company, valued at approximately $199,564,259.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 236,000 shares of company stock worth $23,228,100. Insiders own 3.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Firestone Capital Management bought a new position in Nike in the fourth quarter valued at $25,000. Sowa Financial Group Inc. bought a new position in Nike in the fourth quarter valued at $27,000. Kessler Investment Group LLC bought a new position in Nike in the first quarter valued at $27,000. Stuart Chaussee & Associates Inc. increased its stake in Nike by 668.9% in the first quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock valued at $29,000 after acquiring an additional 301 shares during the last quarter. Finally, Perennial Advisors LLC bought a new position in Nike in the first quarter valued at $30,000. 64.54% of the stock is currently owned by institutional investors and hedge funds.

Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Analyst Recommendations for Nike (NYSE:NKE)

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