Pivotal Research Raises Nike (NYSE:NKE) Price Target to $104.00

Nike (NYSE:NKE) had its target price raised by research analysts at Pivotal Research from $101.00 to $104.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the footwear maker’s stock. Pivotal Research’s price target would suggest a potential upside of 13.29% from the company’s current price.

A number of other equities research analysts also recently commented on NKE. Stifel Nicolaus upped their price objective on Nike from $96.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Co reiterated a “market perform” rating and issued a $91.00 price objective (up previously from $85.00) on shares of Nike in a report on Wednesday. They noted that the move was a valuation call. UBS Group set a $87.00 price objective on Nike and gave the company a “neutral” rating in a report on Wednesday, September 4th. Goldman Sachs Group set a $95.00 price objective on Nike and gave the company a “neutral” rating in a report on Wednesday. Finally, Credit Suisse Group reiterated an “in-line” rating and issued a $105.00 price objective (up previously from $97.00) on shares of Nike in a report on Wednesday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $95.21.

NKE stock opened at $91.80 on Wednesday. The company has a market cap of $135.82 billion, a P/E ratio of 36.87, a PEG ratio of 2.30 and a beta of 0.79. Nike has a twelve month low of $66.53 and a twelve month high of $90.00. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $84.22 and a 200-day moving average of $84.80.



Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 24th. The footwear maker reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.15. The business had revenue of $10.66 billion during the quarter, compared to the consensus estimate of $10.43 billion. Nike had a return on equity of 45.12% and a net margin of 10.30%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. As a group, equities research analysts anticipate that Nike will post 2.89 earnings per share for the current fiscal year.

In other news, CFO Andrew Campion sold 6,301 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $86.96, for a total transaction of $547,934.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Hilary K. Krane sold 17,903 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was 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. Over the last three months, insiders sold 203,708 shares of company stock valued at $17,556,051. Insiders own 3.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. acquired a new position in Nike during the first quarter valued at approximately $25,000. Thor Advisors LLC acquired a new position in Nike during the first quarter valued at approximately $26,000. Hexavest Inc. acquired a new position in Nike during the second quarter valued at approximately $30,000. Litman Gregory Asset Management LLC acquired a new position in Nike during the second quarter valued at approximately $31,000. Finally, Harvest Group Wealth Management LLC acquired a new position in Nike during the first quarter valued at approximately $34,000. 65.04% of the stock is owned by institutional investors.

About Nike

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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