NIKE (NYSE:NKE) PT Raised to $85.00

NIKE (NYSE:NKE) had its target price hoisted by research analysts at Jefferies Financial Group from $80.00 to $85.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the footwear maker’s stock. Jefferies Financial Group’s price target indicates a potential downside of 3.77% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. TD Cowen cut their target price on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Morgan Stanley upped their target price on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $92.00 target price on shares of NIKE in a research note on Friday, September 20th. Finally, BMO Capital Markets cut their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.70.

NIKE Stock Performance

NIKE stock traded down $1.11 during trading hours on Monday, reaching $88.33. 5,158,580 shares of the company were exchanged, compared to its average volume of 11,560,377. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The firm has a market cap of $133.32 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.30 and a beta of 1.02. The stock has a 50-day moving average of $79.67 and a 200 day moving average of $86.57.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the prior year, the business earned $0.66 earnings per share. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts anticipate that NIKE will post 3.04 earnings per share for the current year.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated 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 owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a document filed with the SEC, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s 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 transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction 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 business’s 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 transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Institutional Trading of NIKE

Several institutional investors have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in NIKE in the 4th quarter worth about $33,000. Core Wealth Advisors Inc. increased its holdings in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $38,000. 64.25% of the stock is currently owned by institutional investors.

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.