NIKE (NYSE:NKE) Upgraded at Piper Sandler

NIKE (NYSE:NKE) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Friday, Marketbeat reports. The firm currently has a $90.00 price objective on the footwear maker’s stock, up from their previous price objective of $72.00. Piper Sandler’s price target suggests a potential upside of 26.21% from the company’s current price.

Other research analysts also recently issued reports about the stock. Guggenheim lowered their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Truist Financial lowered their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. UBS Group reaffirmed a “neutral” rating and issued a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Robert W. Baird lowered their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Finally, Barclays lowered their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Price Performance

Shares of NYSE:NKE opened at $71.31 on Friday. The company’s fifty day moving average price is $76.29 and its 200 day moving average price is $78.36. NIKE has a 12 month low of $70.75 and a 12 month high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market capitalization of $105.48 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period last year, the business earned $1.03 EPS. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE will post 2.72 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

Institutional investors have recently modified their holdings of the company. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE in the third quarter valued at approximately $30,000. VitalStone Financial LLC grew its holdings in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC grew its holdings in NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares during the period. Ecofi Investissements SA purchased a new stake in NIKE during the second quarter worth approximately $49,000. Finally, Riverview Trust Co purchased a new stake in NIKE during the third quarter worth approximately $52,000. 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.