NIKE (NYSE:NKE) Price Target Increased to $82.00 by Analysts at UBS Group

NIKE (NYSE:NKE) had its price target raised by equities researchers at UBS Group from $78.00 to $82.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the footwear maker’s stock. UBS Group’s price target would indicate a potential downside of 0.73% from the stock’s previous close.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. cut their price objective on NIKE from $83.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Morgan Stanley boosted their price objective on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America lowered their price target on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. Raymond James reissued a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Truist Financial decreased their target price on NIKE from $85.00 to $83.00 and set a “hold” rating for the company in a research note on Wednesday. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.48.

NIKE Stock Down 7.3 %

NKE stock traded down $6.53 during mid-day trading on Wednesday, hitting $82.60. The stock had a trading volume of 5,982,111 shares, compared to its average volume of 11,614,916. The stock has a market capitalization of $124.67 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.30 and a beta of 1.02. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a fifty day moving average of $80.26 and a 200 day moving average of $86.41.

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

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on 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 completion of the sale, the chairman now 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. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently modified their holdings of the business. Eagle Asset Management Inc. grew its holdings in shares of NIKE by 19.2% during the fourth quarter. Eagle Asset Management Inc. now owns 7,816 shares of the footwear maker’s stock worth $849,000 after buying an additional 1,257 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of NIKE by 3.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,662 shares of the footwear maker’s stock valued at $398,000 after purchasing an additional 126 shares during the last quarter. Belpointe Asset Management LLC lifted its position in shares of NIKE by 35.6% in the fourth quarter. Belpointe Asset Management LLC now owns 3,254 shares of the footwear maker’s stock worth $353,000 after purchasing an additional 855 shares in the last quarter. Morningstar Investment Management LLC acquired a new position in NIKE during the fourth quarter worth $375,000. Finally, Cetera Advisor Networks LLC grew its position in NIKE by 8.9% in the fourth quarter. Cetera Advisor Networks LLC now owns 111,481 shares of the footwear maker’s stock valued at $12,103,000 after purchasing an additional 9,131 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.