Nike (NYSE:NKE) Given a $96.00 Price Target by Stifel Nicolaus Analysts

Stifel Nicolaus set a $96.00 price target on Nike (NYSE:NKE) in a research note published on Wednesday morning, TipRanks reports. The firm currently has a buy rating on the footwear maker’s stock.

A number of other analysts have also issued reports on the company. UBS Group set a $85.00 target price on Nike and gave the company a neutral rating in a report on Monday, June 17th. Bank of America upgraded Nike to an underperform rating and increased their target price for the company from $60.00 to $70.00 in a report on Monday, June 24th. Macquarie set a $89.00 target price on Nike and gave the company a buy rating in a report on Friday, June 28th. Morgan Stanley increased their target price on Nike from $103.00 to $108.00 and gave the company an overweight rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research upgraded Nike from a sell rating to a hold rating and set a $95.00 target price for the company in a report on Monday, May 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $90.02.

Shares of NYSE:NKE traded down $1.02 on Wednesday, reaching $81.98. 5,304,681 shares of the company traded hands, compared to its average volume of 5,832,102. Nike has a fifty-two week low of $66.53 and a fifty-two week high of $90.00. The firm has a 50 day simple moving average of $85.65. The stock has a market cap of $130.05 billion, a PE ratio of 32.92, a PEG ratio of 2.20 and a beta of 0.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.10 and a quick ratio of 1.39.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). The company had revenue of $10.18 billion for the quarter, compared to analyst estimates of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. Nike’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS. As a group, research analysts forecast that Nike will post 2.9 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.07%. Nike’s payout ratio is 35.34%.

In other news, Director Elizabeth J. Comstock sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $84.84, for a total value of $2,036,160.00. Following the sale, the director now directly owns 38,813 shares of the company’s stock, valued at $3,292,894.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Hilary K. Krane sold 17,903 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $88.70, for a total value of $1,587,996.10. The disclosure for this sale can be found here. Insiders have sold 194,637 shares of company stock worth $16,767,237 over the last three months. Company insiders own 3.80% of the company’s stock.

Several large investors have recently modified their holdings of the company. Trustcore Financial Services LLC grew its position in shares of Nike by 2.9% in the second quarter. Trustcore Financial Services LLC now owns 4,261 shares of the footwear maker’s stock valued at $358,000 after purchasing an additional 120 shares during the last quarter. Merriman Wealth Management LLC grew its position in shares of Nike by 1.0% in the second quarter. Merriman Wealth Management LLC now owns 12,337 shares of the footwear maker’s stock valued at $1,054,000 after purchasing an additional 126 shares during the last quarter. Midwest Professional Planners LTD. grew its position in shares of Nike by 1.0% in the first quarter. Midwest Professional Planners LTD. now owns 12,794 shares of the footwear maker’s stock valued at $1,077,000 after purchasing an additional 127 shares during the last quarter. Arcadia Investment Management Corp MI lifted its stake in shares of Nike by 45.4% in the first quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock valued at $35,000 after buying an additional 128 shares during the period. Finally, First Personal Financial Services lifted its stake in shares of Nike by 14.9% in the second quarter. First Personal Financial Services now owns 992 shares of the footwear maker’s stock valued at $83,000 after buying an additional 129 shares during the period. 65.68% of the stock is currently owned by institutional investors.

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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