NIKE (NYSE:NKE) PT Raised to $82.00

NIKE (NYSE:NKE) had its price target increased by investment analysts at Morgan Stanley from $79.00 to $82.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the footwear maker’s stock. Morgan Stanley’s target price points to a potential downside of 6.58% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on NKE. Truist Financial boosted their price target on NIKE from $81.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, September 20th. HSBC lowered their price target on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. BMO Capital Markets decreased their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, Citigroup decreased their target price on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.52.

NIKE Trading Up 0.4 %

NKE stock traded up $0.32 during trading on Wednesday, reaching $87.78. 1,738,035 shares of the stock traded hands, compared to its average volume of 11,539,264. The business’s 50 day moving average price is $78.70 and its 200-day moving average price is $86.82. NIKE has a 52-week low of $70.75 and a 52-week 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. The firm has a market capitalization of $131.61 billion, a PE ratio of 23.53, a P/E/G ratio of 2.30 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts forecast that NIKE will post 3.04 earnings per share for the current year.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Centaurus Financial Inc. grew its holdings in NIKE by 180.8% in the 2nd quarter. Centaurus Financial Inc. now owns 4,490 shares of the footwear maker’s stock worth $338,000 after buying an additional 2,891 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in NIKE by 625.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,900 shares of the footwear maker’s stock worth $5,796,000 after buying an additional 66,299 shares in the last quarter. American Trust grew its holdings in NIKE by 4.5% in the 2nd quarter. American Trust now owns 46,076 shares of the footwear maker’s stock worth $3,473,000 after buying an additional 1,969 shares in the last quarter. Newbridge Financial Services Group Inc. grew its holdings in NIKE by 27.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,238 shares of the footwear maker’s stock worth $93,000 after buying an additional 264 shares in the last quarter. Finally, SS&H Financial Advisors Inc. grew its holdings in NIKE by 1.3% in the 2nd quarter. SS&H Financial Advisors Inc. now owns 18,961 shares of the footwear maker’s stock worth $1,429,000 after buying an additional 235 shares in the last quarter. 64.25% of the stock is owned by 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.