BMO Capital Markets Cuts NIKE (NYSE:NKE) Price Target to $92.00

NIKE (NYSE:NKE) had its target price cut by BMO Capital Markets from $95.00 to $92.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the footwear maker’s stock. BMO Capital Markets’ target price indicates a potential upside of 35.26% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company cut their target price on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Bank of America decreased their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Finally, Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $87.38.

NIKE Stock Down 5.4 %

Shares of NYSE NKE opened at $68.02 on Friday. NIKE has a 52-week low of $65.17 and a 52-week high of $98.04. The firm has a fifty day moving average of $74.70 and a 200-day moving average of $77.43. The stock has a market capitalization of $100.60 billion, a PE ratio of 20.99, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the prior year, the company earned $0.98 EPS. The firm’s revenue was down 9.1% on a year-over-year basis. On average, analysts anticipate that NIKE will post 2.05 EPS for the current year.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Several institutional investors have recently made changes to their positions in NKE. Teachers Insurance & Annuity Association of America acquired a new position in NIKE in the third quarter valued at about $30,000. Caitlin John LLC boosted its position in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in NIKE in the fourth quarter valued at about $28,000. Roxbury Financial LLC acquired a new position in NIKE in the fourth quarter valued at about $30,000. Finally, LFA Lugano Financial Advisors SA boosted its position in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after buying an additional 210 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.