Deutsche Bank Aktiengesellschaft Cuts NIKE (NYSE:NKE) Price Target to $92.00

NIKE (NYSE:NKE) had its target price dropped by research analysts at Deutsche Bank Aktiengesellschaft from $115.00 to $92.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the footwear maker’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 20.96% from the company’s previous close.

NKE has been the subject of several other reports. Telsey Advisory Group reduced their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Wedbush cut their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Oppenheimer reissued an “outperform” rating and set a $120.00 target price on shares of NIKE in a research note on Friday, June 28th. Williams Trading reissued a “sell” rating and set a $85.00 target price (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Finally, Sanford C. Bernstein cut their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, NIKE currently has an average rating of “Hold” and an average price target of $97.19.

NIKE Stock Down 1.0 %

NKE opened at $76.06 on Wednesday. The business has a 50 day moving average price of $92.94 and a two-hundred day moving average price of $98.54. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a market cap of $114.80 billion, a PE ratio of 20.39, a P/E/G ratio of 1.43 and a beta of 1.01. NIKE has a 52 week low of $74.29 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. As a group, research analysts anticipate that NIKE will post 3.47 EPS for the current year.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Johanna Nielsen sold 282 shares of the 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 transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 over the last quarter. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC raised its position in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the period. Iron Horse Wealth Management LLC raised its position in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. purchased a new position in NIKE in the fourth quarter valued at about $29,000. True Wealth Design LLC raised its position in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new position in NIKE in the fourth quarter valued at about $33,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

About NIKE

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.