NIKE (NYSE:NKE) Rating Reiterated by Bank of America

NIKE (NYSE:NKE)‘s stock had its “buy” rating restated by equities research analysts at Bank of America in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $104.00 price target on the footwear maker’s stock. Bank of America‘s price target would indicate a potential upside of 21.24% from the company’s previous close.

Several other research analysts have also recently issued reports on NKE. Evercore ISI upped their price objective on NIKE from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. Jefferies Financial Group lowered their price target on NIKE from $90.00 to $80.00 in a report on Friday, July 12th. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. BMO Capital Markets cut their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price objective on shares of NIKE in a report on Friday. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.04.

NIKE Trading Down 0.9 %

NYSE:NKE traded down $0.74 on Monday, reaching $85.78. 6,426,843 shares of the company’s stock were exchanged, compared to its average volume of 11,475,634. The business has a fifty day moving average of $78.11 and a 200-day moving average of $86.99. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a market capitalization of $129.47 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 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 net margin of 11.10% and a return on equity of 42.63%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, analysts expect that NIKE will post 3.06 earnings per share for the current year.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other NIKE news, 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 completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was bought 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 owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. boosted its position in NIKE by 180.8% during the second quarter. Centaurus Financial Inc. now owns 4,490 shares of the footwear maker’s stock worth $338,000 after acquiring an additional 2,891 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of NIKE by 625.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,900 shares of the footwear maker’s stock worth $5,796,000 after purchasing an additional 66,299 shares during the last quarter. American Trust boosted its holdings in shares of NIKE by 4.5% during the second quarter. American Trust now owns 46,076 shares of the footwear maker’s stock worth $3,473,000 after purchasing an additional 1,969 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of NIKE by 27.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,238 shares of the footwear maker’s stock valued at $93,000 after purchasing an additional 264 shares during the period. Finally, SS&H Financial Advisors Inc. increased its stake in NIKE by 1.3% in the second quarter. SS&H Financial Advisors Inc. now owns 18,961 shares of the footwear maker’s stock valued at $1,429,000 after purchasing an additional 235 shares during the last quarter. Hedge funds and other institutional investors 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.