NIKE (NYSE:NKE) Price Target Lowered to $96.00 at Telsey Advisory Group

NIKE (NYSE:NKE) had its target price lowered by analysts at Telsey Advisory Group from $100.00 to $96.00 in a research note issued on Wednesday, Briefing.com reports. The firm currently has an “outperform” rating on the footwear maker’s stock. Telsey Advisory Group’s price target indicates a potential upside of 7.71% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. UBS Group reissued a “neutral” rating and set a $78.00 price objective on shares of NIKE in a report on Friday, June 28th. Bank of America reissued a “buy” rating and set a $104.00 price objective on shares of NIKE in a report on Monday, September 23rd. Guggenheim cut their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Stifel Nicolaus cut their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.41.

NIKE Trading Up 0.8 %

NYSE NKE opened at $89.13 on Wednesday. The firm has a 50 day simple moving average of $80.26 and a 200-day simple moving average of $86.41. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE has a one year low of $70.75 and a one year high of $123.39. The firm has a market cap of $134.53 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 2.30 and a beta of 1.02.

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

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were 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 owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of 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 filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

A number of institutional investors and hedge funds have recently bought and sold shares of NKE. Eagle Asset Management Inc. increased its position in NIKE by 19.2% during the 4th quarter. Eagle Asset Management Inc. now owns 7,816 shares of the footwear maker’s stock worth $849,000 after purchasing an additional 1,257 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of NIKE by 3.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,662 shares of the footwear maker’s stock valued at $398,000 after buying an additional 126 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in shares of NIKE by 35.6% during the 4th quarter. Belpointe Asset Management LLC now owns 3,254 shares of the footwear maker’s stock valued at $353,000 after buying an additional 855 shares during the last quarter. Morningstar Investment Management LLC purchased a new position in shares of NIKE during the 4th quarter valued at approximately $375,000. Finally, Cetera Advisor Networks LLC boosted its stake in shares of NIKE by 8.9% during the 4th quarter. Cetera Advisor Networks LLC now owns 111,481 shares of the footwear maker’s stock valued at $12,103,000 after buying an additional 9,131 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.