NIKE (NYSE:NKE) Given New $74.00 Price Target at Citigroup

Key Points

• Citigroup has raised its price target for NIKE from $68 to $74, maintaining a "neutral" rating, which suggests a potential upside of 1.28% from the current price.
• Other analysts have varied opinions on NIKE, with Bank of America increasing its target from $80 to $84 with a "buy" rating, while DZ Bank downgraded it to a "hold" with a target of $76.
• NIKE reported a quarterly EPS of $0.14, exceeding analysts' expectations, although its revenue was down 11.9% year-over-year.

NIKE (NYSE:NKE - Get Free Report) had its price target raised by analysts at Citigroup from $68.00 to $74.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the footwear maker's stock. Citigroup's price target suggests a potential upside of 1.28% from the company's current price.

A number of other analysts also recently commented on NKE. Bank of America upped their price objective on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Barclays increased their target price on NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Evercore ISI cut their target price on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada reduced their target price on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.89.

NIKE Stock Up 0.1%

NKE stock opened at $73.06 on Tuesday. The stock has a market capitalization of $107.91 billion, a P/E ratio of 33.83, a PEG ratio of 2.65 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE has a one year low of $52.28 and a one year high of $90.62. The company has a 50 day moving average price of $75.33 and a two-hundred day moving average price of $67.59.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. NIKE's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 EPS. As a group, sell-side analysts expect that NIKE will post 2.05 EPS for the current year.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in NIKE by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker's stock worth $8,086,042,000 after purchasing an additional 672,705 shares during the last quarter. State Street Corp grew its position in NIKE by 2.8% in the 2nd quarter. State Street Corp now owns 59,154,159 shares of the footwear maker's stock worth $4,225,441,000 after purchasing an additional 1,590,603 shares during the last quarter. Wellington Management Group LLP grew its position in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after acquiring an additional 620,214 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.

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