Piper Jaffray Companies Analysts Give Nike (NYSE:NKE) a $93.00 Price Target

Nike (NYSE:NKE) has been given a $93.00 target price by investment analysts at Piper Jaffray Companies in a research note issued to investors on Friday, March 22nd, TipRanks reports. The brokerage presently has a “buy” rating on the footwear maker’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 7.11% from the company’s previous close. Piper Jaffray Companies also issued estimates for Nike’s Q3 2019 earnings at $0.65 EPS, Q4 2019 earnings at $0.83 EPS, FY2019 earnings at $2.66 EPS, Q1 2020 earnings at $0.79 EPS, Q1 2020 earnings at $0.81 EPS, Q2 2020 earnings at $0.61 EPS, Q2 2020 earnings at $0.59 EPS, Q3 2020 earnings at $0.77 EPS, Q4 2020 earnings at $0.97 EPS, FY2020 earnings at $2.90 EPS, Q1 2021 earnings at $0.93 EPS, Q2 2021 earnings at $0.71 EPS, Q3 2021 earnings at $0.91 EPS and FY2021 earnings at $3.45 EPS.

Several other equities analysts have also recently commented on NKE. Zacks Investment Research cut shares of Nike from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. UBS Group lowered their price target on shares of Nike from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Wells Fargo & Co lifted their price objective on shares of Nike from $76.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. Credit Suisse Group reiterated a “buy” rating and issued a $97.00 price objective on shares of Nike in a research note on Friday, March 22nd. Finally, Cowen set a $90.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $87.10.

Shares of NKE traded up $0.59 during trading hours on Friday, hitting $86.83. The stock had a trading volume of 4,945,743 shares, compared to its average volume of 6,503,353. Nike has a 1-year low of $64.99 and a 1-year high of $88.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43. The company has a market cap of $135.72 billion, a PE ratio of 35.88, a P/E/G ratio of 2.56 and a beta of 0.67.

Nike (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. Nike had a net margin of 10.79% and a return on equity of 45.78%. The firm had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the firm earned $0.68 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts expect that Nike will post 2.55 EPS for the current fiscal year.

In other Nike news, EVP Monique S. Matheson sold 16,500 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total value of $1,455,465.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $85.02, for a total transaction of $9,352,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 576,500 shares of company stock valued at $46,807,665. 3.90% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its position in Nike by 6,517.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock valued at $476,000 after purchasing an additional 34,749,961 shares during the period. Norges Bank bought a new position in Nike in the fourth quarter worth approximately $892,899,000. BlackRock Inc. raised its position in Nike by 4.3% in the fourth quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock worth $6,395,928,000 after acquiring an additional 3,592,186 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in Nike in the fourth quarter worth approximately $224,658,000. Finally, AQR Capital Management LLC raised its position in Nike by 352.5% in the third quarter. AQR Capital Management LLC now owns 3,839,908 shares of the footwear maker’s stock worth $325,317,000 after acquiring an additional 2,991,299 shares during the period. Hedge funds and other institutional investors own 65.62% of the company’s stock.

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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