Nike (NYSE:NKE)‘s stock had its “buy” rating restated by stock analysts at Credit Suisse Group in a research report issued on Friday. They presently have a $78.00 target price on the footwear maker’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 20.69% from the stock’s previous close.

Several other research analysts have also recently issued reports on NKE. Nomura set a $74.00 price target on shares of Nike and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus reissued a “buy” rating and set a $74.00 price target on shares of Nike in a report on Friday, December 22nd. Wedbush reissued an “outperform” rating and set a $74.00 price target (down from $75.00) on shares of Nike in a report on Friday. Bank of America set a $42.00 price target on shares of Nike and gave the stock a “sell” rating in a report on Monday, March 19th. Finally, Barclays set a $75.00 price target on shares of Nike and gave the stock a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Nike presently has an average rating of “Hold” and a consensus price target of $68.07.

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Shares of Nike (NKE) traded up $0.21 on Friday, hitting $64.63. 17,342,645 shares of the stock traded hands, compared to its average volume of 7,119,039. Nike has a twelve month low of $50.35 and a twelve month high of $70.25. The firm has a market capitalization of $104,807.41, a P/E ratio of 60.97, a price-to-earnings-growth ratio of 2.92 and a beta of 0.68. 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 posted its quarterly earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.15. The firm had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $8.85 billion. Nike had a net margin of 5.11% and a return on equity of 31.81%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. sell-side analysts forecast that Nike will post 2.25 earnings per share for the current fiscal year.

In related news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the sale, the chairman now owns 1,637,736 shares in the company, valued at $114,641,520. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the sale, the chief operating officer now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 912,802 shares of company stock valued at $58,993,107. Corporate insiders own 3.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wagner Wealth Management LLC acquired a new stake in Nike during the fourth quarter worth approximately $103,000. D.B. Root & Company LLC acquired a new position in shares of Nike in the 4th quarter valued at $572,000. Rehmann Capital Advisory Group boosted its holdings in shares of Nike by 16.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 8,409 shares of the footwear maker’s stock valued at $526,000 after purchasing an additional 1,185 shares during the last quarter. KCM Investment Advisors LLC boosted its holdings in shares of Nike by 0.9% in the 4th quarter. KCM Investment Advisors LLC now owns 178,275 shares of the footwear maker’s stock valued at $11,151,000 after purchasing an additional 1,506 shares during the last quarter. Finally, Colonial Trust Advisors boosted its holdings in shares of Nike by 22.5% in the 4th quarter. Colonial Trust Advisors now owns 170,288 shares of the footwear maker’s stock valued at $10,652,000 after purchasing an additional 31,310 shares during the last quarter. Hedge funds and other institutional investors own 65.65% of the company’s stock.

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About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

Analyst Recommendations for Nike (NYSE:NKE)

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