Evercore ISI Cuts NIKE (NYSE:NKE) Price Target to $105.00

NIKE (NYSE:NKE) had its target price decreased by Evercore ISI from $110.00 to $105.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the footwear maker’s stock. Evercore ISI’s price objective would suggest a potential upside of 11.44% from the stock’s previous close.

Several other equities research analysts also recently issued reports on NKE. Williams Trading reaffirmed a “sell” rating and set a $85.00 target price (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. The Goldman Sachs Group reduced their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Truist Financial restated a “hold” rating and set a $99.00 price target on shares of NIKE in a research note on Thursday, June 20th. Finally, Sanford C. Bernstein reduced their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

NIKE Stock Performance

NKE opened at $94.23 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average price is $93.70 and its two-hundred day moving average price is $99.48. The firm has a market capitalization of $142.22 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. NIKE has a 12-month low of $88.66 and a 12-month high of $123.39.

Insider Transactions at NIKE

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,660 shares of company stock worth $19,946,333. Insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NBW Capital LLC lifted its position in NIKE by 0.9% during the 1st quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock valued at $4,468,000 after purchasing an additional 431 shares during the period. IMS Capital Management raised its stake in shares of NIKE by 2.7% during the first quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock worth $2,127,000 after buying an additional 589 shares during the last quarter. American Trust raised its stake in shares of NIKE by 9.5% during the first quarter. American Trust now owns 44,107 shares of the footwear maker’s stock worth $4,145,000 after buying an additional 3,833 shares during the last quarter. Portland Hill Asset Management Ltd acquired a new position in NIKE in the first quarter valued at approximately $958,000. Finally, Soltis Investment Advisors LLC boosted its stake in NIKE by 62.6% in the first quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock valued at $2,675,000 after acquiring an additional 10,958 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.