NIKE (NYSE:NKE) Receives $156.00 Price Target From UBS Group Analysts
NIKE (NYSE: NKE – Get a rating) received a price target of $156.00 from UBS Group equity research analysts in a report on Monday, Borsen Zeitung reports. UBS Group’s target price suggests upside potential of 38.80% from the company’s current price.
A number of other research analysts also commented on NKE. JPMorgan Chase & Co. set a price target of $130.00 on NIKE in a Wednesday, August 10 report. Telsey Advisory Group lowered its price target on NIKE from $140.00 to $130.00 and set an “outperform” rating on the stock in a Tuesday, June 28 report. Deutsche Bank Aktiengesellschaft set a price target of $130.00 on NIKE in a report on Tuesday, June 28. Wells Fargo & Company lowered its price target on NIKE from $150.00 to $130.00 and set an “overweight” rating on the stock in a Tuesday, June 28 report. Finally, Cowen lowered his target price on NIKE from $127.00 to $124.00 in a research note on Monday. Eleven research analysts gave the stock a hold rating and twenty gave the company’s stock a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.42.
Performance of NIKE shares
NYSE NKE traded $1.42 during trading hours on Monday, hitting $112.39. The company had a trading volume of 139,608 shares, compared to its average volume of 6,987,937. NIKE has a fifty-two-week low of $99.53 and a fifty-two-week high of $179.10. $. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt ratio of 0.58. The company has a fifty-day simple moving average of $109.73 and a 200-day simple moving average of $117.38. The company has a market capitalization of $176.29 billion, a P/E ratio of 29.88, a price-to-earnings growth ratio of 2.35 and a beta of 1.03.
NIKE (NYSE: NKE – Get a rating) last released its results on Monday, June 27. The shoemaker reported earnings per share of $0.90 for the quarter, beating the consensus estimate of $0.81 by $0.09. The company posted revenue of $12.20 billion for the quarter, versus analyst estimates of $12.10 billion. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The company’s revenue for the quarter was down 0.8% year over year. During the same period last year, the company earned earnings per share of $0.93. Stock analysts predict that NIKE will post an EPS of 3.78 for the current year.
NIKE said its board of directors authorized a stock repurchase plan on Monday, June 27 that authorizes the company to repurchase $18.00 billion in outstanding stock. This repurchase authorization allows the shoemaker to repurchase up to 11% of its shares through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its stock is undervalued.
Insider Activity at NIKE
In related news, CFO Matthew friend sold 4,139 shares of the company in a trade that took place on Wednesday, August 3. The stock was sold at an average price of $113.42, for a total value of $469,445.38. Following the transaction, the CFO now directly owns 56,539 shares of the company, valued at approximately $6,412,653.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. In other NIKE news, EVP Monique S. Matheson sold 30,000 shares of the company in a transaction that took place on Thursday, July 7. The stock was sold at an average price of $107.19, for a total value of $3,215,700.00. Following the sale, the executive vice president now owns 60,330 shares of the company, valued at approximately $6,466,772.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, CFO Matthew friend sold 4,139 shares of the company in a trade that took place on Wednesday, August 3. The shares were sold at an average price of $113.42, for a total value of $469,445.38. Following the completion of the sale, the CFO now directly owns 56,539 shares of the company, valued at approximately $6,412,653.38. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 59,561 shares of the company valued at $6,374,094. Company insiders own 0.40% of the company’s shares.
NIKE Institutional Trade
Several institutional investors have recently changed their stake in NKE. Norges Bank bought a new position in NIKE stock during Q4 for a value of approximately $1,894,686,000. Renaissance Technologies LLC purchased a new position in NIKE stock during Q2 for a value of approximately $212,851,000. State Street Corp increased its position in NIKE shares by 3.6% during the fourth quarter. State Street Corp now owns 56,598,375 shares of the shoemaker worth $9,433,251,000 after purchasing an additional 1,969,270 shares during the period. Wellington Management Group LLP increased its position in NIKE shares by 9.0% during the 1st quarter. Wellington Management Group LLP now owns 18,040,233 shares of the shoemaker worth $2,427,495,000 after purchasing an additional 1,486,421 shares during the period. Finally, Lazard Asset Management LLC increased its position in NIKE shares by 221.5% during the 1st quarter. Lazard Asset Management LLC now owns 2,046,445 shares of the shoemaker worth $275,368,000 after purchasing an additional 1,409,913 shares during the period. Institutional investors and hedge funds hold 64.19% of the company’s shares.
NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for men, women and children worldwide. The Company provides athletic and recreational footwear, apparel and accessories under the Jumpman brand; and casual sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell brands.
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