Price Target Update on Nike (NYSE:NKE)

Nike (NYSE:NKE) : Average target price received by Nike (NYSE:NKE) is $68.64 with an expected standard deviation of $7.5. The most aggressive target on the stock is $82, whereas the most downbeat target is $47. 21 financial analysts are currently covering the stock.

Other Equity analysts have also commented on the company shares. Major Brokerage house, Morgan Stanley downgrades its ratings on Nike (NYSE:NKE). In the latest research report, Morgan Stanley lowers the target price from $69 per share to $60 per share. According to the latest information available, the shares are now rated Equal-weight by the analysts at the agency. Previously, the analysts had a Overweight rating on the shares. The rating by the firm was issued on June 1, 2016.

Nike (NYSE:NKE): On Thursdays trading session , Opening price of the stock was $55.11 with an intraday high of $55.18. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $53.95. However, the stock managed to close at $54.12, a loss of 0.82% for the day. On the previous day, the stock had closed at $54.57. The total traded volume of the day was 11,219,782 shares.

The company shares have rallied 3.73% from its 1 Year high price. On Dec 23, 2015, the shares registered one year high at $68.19 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $55.85 and the 200 Day Moving Average price is recorded at $59.61. On the companys insider trading activities,The officer (CHIEF OPERATING OFFICER) of Nike Inc, Sprunk Eric D sold 135,764 shares at $58.82 on April 29, 2016. The Insider selling transaction had a total value worth of $7,985,638. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

NIKE, Inc. is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world. The Company focuses its NIKE Brand product offerings in eight key categories: Running, Basketball, Football (Soccer), Mens Training, Womens Training, Action Sports, Sportswear (the Companys sports-inspired lifestyle products) and Golf. The Company also markets products designed for kids, as well as for other athletic and recreational uses, such as cricket, lacrosse, tennis, volleyball, wrestling, walking and outdoor activities. The Companys portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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