Wells Fargo & Company Increases NIKE (NYSE:NKE) Price Target to $95.00

NIKE (NYSE:NKE) had its target price raised by Wells Fargo & Company from $86.00 to $95.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the footwear maker’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 11.29% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and upped their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Jefferies Financial Group dropped their target price on shares of NIKE from $90.00 to $80.00 in a report on Friday, July 12th. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. BMO Capital Markets lowered their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $92.00 price target on shares of NIKE in a research report on Friday. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.00.

NIKE Price Performance

Shares of NKE stock traded up $4.38 during trading hours on Friday, hitting $85.36. The stock had a trading volume of 20,408,793 shares, compared to its average volume of 11,332,746. The stock’s 50-day moving average price is $77.84 and its two-hundred day moving average price is $87.23. NIKE has a one year low of $70.75 and a one year high of $123.39. The stock has a market capitalization of $128.84 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.08 and a beta of 1.02. 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 data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion for 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 company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. Equities analysts forecast that NIKE will post 3.06 EPS for the current year.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Several large investors have recently bought and sold shares of NKE. 9258 Wealth Management LLC increased its stake in NIKE by 23.9% during the fourth quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after purchasing an additional 842 shares during the last quarter. Gryphon Financial Partners LLC raised its stake in shares of NIKE by 34.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after purchasing an additional 2,981 shares in the last quarter. TrinityPoint Wealth LLC raised its position in NIKE by 0.8% during 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 in the last quarter. GW&K Investment Management LLC lifted its stake in shares of NIKE by 26.4% in the 4th 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 holdings in NIKE by 6.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock valued at $13,767,000 after buying an additional 7,769 shares in the last quarter. 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.