Robert W. Baird Increases NIKE (NYSE:NKE) Price Target to $110.00

NIKE (NYSE:NKE) had its target price boosted by research analysts at Robert W. Baird from $100.00 to $110.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the footwear maker’s stock. Robert W. Baird’s target price would indicate a potential upside of 35.85% from the stock’s current price.

Several other research firms have also commented on NKE. Bank of America lowered their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. The Goldman Sachs Group cut their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $79.00 target price (down from $114.00) on shares of NIKE in a report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.70.

NIKE Stock Performance

NYSE NKE opened at $80.97 on Friday. The business has a 50 day moving average price of $77.84 and a 200 day moving average price of $87.23. The company has a market capitalization of $122.21 billion, a P/E ratio of 21.71, a PEG ratio of 2.08 and a beta of 1.02. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The business 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 business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 EPS. Sell-side analysts expect that NIKE will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently bought and sold shares of the company. 9258 Wealth Management LLC lifted its position in shares of NIKE by 23.9% in the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after buying an additional 842 shares during the last quarter. Gryphon Financial Partners LLC lifted its holdings in NIKE by 34.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after acquiring an additional 2,981 shares during the last quarter. TrinityPoint Wealth LLC boosted its stake in NIKE by 0.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock valued at $2,341,000 after acquiring an additional 166 shares during the period. GW&K Investment Management LLC grew its holdings in shares of NIKE by 26.4% during the fourth quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock valued at $66,000 after purchasing an additional 126 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of NIKE by 6.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock worth $13,767,000 after purchasing an additional 7,769 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.