Nike (NYSE:NKE) Given a $60.00 Price Target at Canaccord Genuity

Nike (NYSE:NKE) has been assigned a $60.00 target price by stock analysts at Canaccord Genuity in a research note issued to investors on Sunday, January 7th. The firm presently has a “hold” rating on the footwear maker’s stock. Canaccord Genuity’s target price would indicate a potential downside of 7.22% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. Buckingham Research began coverage on Nike in a report on Saturday, January 6th. They issued a “buy” rating and a $72.00 target price on the stock. Main First Bank set a $75.00 price objective on Nike and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Goldman Sachs Group set a $62.00 price objective on Nike and gave the stock a “neutral” rating in a report on Wednesday, January 3rd. Jefferies Group set a $59.00 price objective on Nike and gave the stock a “neutral” rating in a report on Wednesday, January 3rd. Finally, Macquarie set a $72.00 target price on Nike and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-one have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $64.40.

Shares of Nike (NYSE NKE) traded up $0.38 on Friday, hitting $64.67. The stock had a trading volume of 5,135,600 shares, compared to its average volume of 7,326,811. The firm has a market cap of $106,150.00, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 2.93 and a beta of 0.64. Nike has a one year low of $50.35 and a one year high of $65.18. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.

Nike (NYSE:NKE) last issued its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. equities analysts predict that Nike will post 2.25 earnings per share for the current year.

In other news, COO Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the transaction, the chief operating officer now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the transaction, the chairman now owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 967,896 shares of company stock worth $60,257,267. Company insiders own 3.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Asset Planning Services Ltd. increased its position in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the last quarter. Stearns Financial Services Group increased its position in shares of Nike by 0.4% during the 2nd quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after purchasing an additional 17 shares during the last quarter. Smith Shellnut Wilson LLC ADV increased its position in shares of Nike by 0.3% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after purchasing an additional 41 shares during the last quarter. Buckingham Asset Management LLC increased its position in shares of Nike by 0.7% during the 2nd quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock worth $401,000 after purchasing an additional 45 shares during the last quarter. Finally, Sullivan Bruyette Speros & Blaney LLC increased its position in shares of Nike by 1.0% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,048 shares of the footwear maker’s stock worth $357,000 after purchasing an additional 61 shares during the last quarter. 62.75% of the stock is currently owned by institutional investors and hedge funds.

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About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Analyst Recommendations for Nike (NYSE:NKE)

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