Susquehanna Bancshares Boosts Nike (NKE) Price Target to $100.00

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Nike (NYSE:NKE) had its target price increased by Susquehanna Bancshares from $93.00 to $100.00 in a report released on Thursday, September 20th, Marketbeat reports. The firm currently has a “positive” rating on the footwear maker’s stock. Susquehanna Bancshares’ price objective would suggest a potential upside of 31.73% from the company’s previous close.

NKE has been the subject of several other research reports. Needham & Company LLC reaffirmed a “neutral” rating on shares of Nike in a research report on Thursday, September 13th. HSBC set a $92.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Thursday, September 6th. Morgan Stanley initiated coverage on shares of Nike in a research report on Wednesday, August 1st. They issued an “overweight” rating and a $88.00 price target for the company. Jefferies Financial Group reaffirmed a “neutral” rating and issued a $68.00 price target on shares of Nike in a research report on Wednesday, June 13th. Finally, Credit Suisse Group reissued a “buy” rating and set a $78.00 target price on shares of Nike in a research report on Thursday, June 14th. Two 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 stock. Nike has a consensus rating of “Buy” and a consensus target price of $84.60.

Shares of NKE stock opened at $75.91 on Thursday. Nike has a one year low of $50.40 and a one year high of $86.04. The stock has a market capitalization of $135.60 billion, a price-to-earnings ratio of 31.37, a P/E/G ratio of 2.81 and a beta of 0.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.31.

Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. Nike had a net margin of 5.57% and a return on equity of 40.69%. The firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.92 billion. During the same quarter in the prior year, the company earned $0.57 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that Nike will post 2.63 EPS for the current fiscal year.

Nike declared that its board has initiated a share buyback program on Thursday, June 28th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the footwear maker to buy up to 12.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other Nike news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $76.07, for a total value of $760,700.00. Following the completion of the transaction, the executive vice president now owns 86,774 shares of the company’s stock, valued at $6,600,898.18. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the sale, the director now owns 26,963 shares in the company, valued at approximately $2,293,203.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,778 shares of company stock valued at $5,969,246. Corporate insiders own 3.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in shares of Nike by 41.0% in the third quarter. Bank of Montreal Can now owns 1,255,638 shares of the footwear maker’s stock worth $106,377,000 after acquiring an additional 364,886 shares during the period. Pittenger & Anderson Inc. increased its stake in shares of Nike by 1.7% in the third quarter. Pittenger & Anderson Inc. now owns 80,490 shares of the footwear maker’s stock worth $6,819,000 after acquiring an additional 1,360 shares during the period. TMD & Associates Inc. acquired a new stake in shares of Nike in the third quarter worth $354,000. Stokes Capital Advisors LLC increased its stake in shares of Nike by 1.6% in the third quarter. Stokes Capital Advisors LLC now owns 46,734 shares of the footwear maker’s stock worth $3,959,000 after acquiring an additional 752 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in shares of Nike by 46.4% in the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,214 shares of the footwear maker’s stock worth $950,000 after acquiring an additional 3,556 shares during the period. Hedge funds and other institutional investors own 63.97% of the company’s stock.

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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