NIKE (NYSE:NKE) Price Target Cut to $100.00

NIKE (NYSE:NKE) had its price target decreased by research analysts at Bank of America from $104.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the footwear maker’s stock. Bank of America‘s target price would suggest a potential upside of 12.20% from the company’s current price.

NKE has been the topic of a number of other research reports. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and increased their price target for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Sanford C. Bernstein dropped their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. The Goldman Sachs Group dropped their price target on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Wells Fargo & Company increased their price objective on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Telsey Advisory Group lowered their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.41.

NIKE Trading Up 0.8 %

NYSE:NKE opened at $89.13 on Wednesday. The stock has a market capitalization of $134.53 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The business’s 50-day simple moving average is $80.26 and its 200-day simple moving average is $86.41. 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 has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 EPS. Sell-side analysts expect that NIKE will post 3.04 earnings per share for the current fiscal year.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated 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 directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were 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 of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently modified their holdings of the company. Annapolis Financial Services LLC boosted its stake in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC lifted its position in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in NIKE during the fourth quarter valued at $33,000. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Pineridge Advisors LLC purchased a new position in NIKE during the fourth quarter valued at $38,000. 64.25% of the stock is currently owned by hedge funds and other 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.