DA Davidson Analysts Give Nike (NKE) a $78.00 Price Target

DA Davidson set a $78.00 price objective on Nike (NYSE:NKE) in a report published on Monday morning. The brokerage currently has a buy rating on the footwear maker’s stock.

Several other brokerages have also recently issued reports on NKE. Vetr upgraded Nike from a buy rating to a strong-buy rating and set a $57.97 price objective for the company in a research note on Wednesday, October 4th. Susquehanna Bancshares restated a hold rating and issued a $57.00 price objective on shares of Nike in a research note on Wednesday, December 13th. Canaccord Genuity restated a hold rating and issued a $50.00 price objective (down from $51.00) on shares of Nike in a research note on Wednesday, September 27th. Instinet restated a buy rating and issued a $62.00 price objective (up from $59.00) on shares of Nike in a research note on Wednesday, September 27th. Finally, Zacks Investment Research upgraded Nike from a hold rating to a buy rating and set a $73.00 price objective for the company in a research note on Tuesday, December 19th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-two have given a buy rating to the company. Nike has an average rating of Hold and an average price target of $64.06.

Shares of Nike (NYSE NKE) traded down $0.01 during trading hours on Monday, hitting $63.48. The stock had a trading volume of 6,090,200 shares, compared to its average volume of 6,300,550. Nike has a 1 year low of $50.35 and a 1 year high of $65.18. The stock has a market capitalization of $103,500.00, a PE ratio of 27.48, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same period last year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. research analysts expect that Nike will post 2.25 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were given a $0.20 dividend. The ex-dividend date was Friday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. Nike’s payout ratio is 34.63%.

In other news, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $65.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 23,248 shares in the company, valued at $1,511,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the sale, the insider now directly owns 165,591 shares in the company, valued at $10,448,792.10. The disclosure for this sale can be found here. Insiders sold 742,174 shares of company stock valued at $46,006,408 over the last 90 days. Company insiders own 3.90% of the company’s stock.

Large investors have recently modified their holdings of the company. Asset Planning Services Ltd. boosted its stake in shares of Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the last quarter. Willingdon Wealth Management acquired a new stake in shares of Nike in the third quarter worth approximately $114,000. Atlantic Trust LLC acquired a new stake in shares of Nike in the second quarter worth approximately $136,000. Kistler Tiffany Companies LLC boosted its stake in shares of Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after acquiring an additional 1,209 shares during the last quarter. Finally, Howe & Rusling Inc. boosted its stake in shares of Nike by 751.3% in the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after acquiring an additional 2,329 shares during the last quarter. 62.67% of the stock is currently owned by hedge funds and other institutional investors.

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Nike Company Profile

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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