NIKE (NYSE:NKE) Price Target Raised to $78.00 at Needham & Company LLC

NIKE (NYSE:NKE - Get Free Report) had its price objective upped by research analysts at Needham & Company LLC from $66.00 to $78.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the footwear maker's stock. Needham & Company LLC's price target would indicate a potential upside of 24.39% from the stock's previous close.

A number of other equities research analysts have also recently commented on the stock. Citigroup decreased their target price on shares of NIKE from $72.00 to $57.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Royal Bank Of Canada lowered their price objective on NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. Wells Fargo & Company upped their target price on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $70.00 price target on shares of NIKE in a report on Friday. Sixteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $78.04.

NIKE Stock Up 3.1%

Shares of NYSE NKE opened at $62.71 on Friday. NIKE has a 12-month low of $52.28 and a 12-month high of $94.74. The stock's fifty day simple moving average is $60.31 and its two-hundred day simple moving average is $67.63. The stock has a market capitalization of $92.75 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The firm's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 earnings per share. As a group, analysts expect that NIKE will post 2.05 EPS for the current fiscal year.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the business's stock in a transaction on Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Stone House Investment Management LLC acquired a new stake in NIKE during the first quarter worth $25,000. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after purchasing an additional 210 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of NIKE during the 4th quarter worth about $30,000. Finally, Saudi Central Bank purchased a new stake in NIKE in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Company Profile

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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