NIKE (NYSE:NKE) Given New $82.00 Price Target at Truist Financial

NIKE (NYSE:NKE) had its target price lowered by analysts at Truist Financial from $90.00 to $82.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the footwear maker’s stock. Truist Financial’s price objective would suggest a potential upside of 20.56% from the stock’s current price.

A number of other analysts have also issued reports on NKE. China Renaissance started coverage on NIKE in a research note on Wednesday. They set a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Guggenheim restated a “buy” rating and issued a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. Robert W. Baird decreased their target price on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $87.38.

NIKE Stock Down 5.4 %

Shares of NYSE NKE opened at $68.02 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE has a one year low of $65.17 and a one year high of $98.04. 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 business’s fifty day moving average price is $74.70 and its 200-day moving average price is $77.43.

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

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NKE. Thrivent Financial for Lutherans increased its holdings in NIKE by 4.5% during the third quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker’s stock valued at $5,875,000 after buying an additional 2,843 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in NIKE by 39.6% during the third quarter. Advisors Asset Management Inc. now owns 48,282 shares of the footwear maker’s stock valued at $4,268,000 after buying an additional 13,689 shares during the last quarter. Intech Investment Management LLC increased its holdings in NIKE by 3.2% during the third quarter. Intech Investment Management LLC now owns 51,478 shares of the footwear maker’s stock valued at $4,551,000 after buying an additional 1,580 shares during the last quarter. LPL Financial LLC increased its holdings in NIKE by 19.3% during the third quarter. LPL Financial LLC now owns 1,028,131 shares of the footwear maker’s stock valued at $90,887,000 after buying an additional 166,127 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in NIKE by 19.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker’s stock valued at $637,352,000 after buying an additional 1,184,252 shares during the last quarter. 64.25% of the stock is 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.