In a report released today, Mitch Kummetz from Pivotal Research reiterated a Hold rating on Nike (NYSE: NKE), with a price target of $85. The company’s shares opened today at $86, close to its 52-week high of $86.04.
According to TipRanks.com, Kummetz is a 3-star analyst with an average return of 2.5% and a 55.4% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nike with a $86 average price target, which is a 0.0% upside from current levels. In a report issued on September 10, Wells Fargo also maintained a Hold rating on the stock with a $82 price target.
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Based on Nike’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $9.78 billion and net profit of $1.14 billion. In comparison, last year the company earned revenue of $9.07 billion and had a net profit of $950 million.
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