NIKE (NYSE:NKE) PT Lowered to $105.00

NIKE (NYSE:NKE) had its price objective decreased by investment analysts at Evercore ISI from $110.00 to $105.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the footwear maker’s stock. Evercore ISI’s price objective suggests a potential upside of 25.88% from the company’s current price.

Several other brokerages have also issued reports on NKE. Wedbush cut their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Wells Fargo & Company raised their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Jefferies Financial Group lifted their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. dropped their price target on NIKE from $83.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.19.

NIKE Price Performance

Shares of NKE traded down $5.72 during midday trading on Wednesday, hitting $83.41. The company’s stock had a trading volume of 13,742,170 shares, compared to its average volume of 11,643,338. NIKE has a one year low of $70.75 and a one year high of $123.39. The company’s fifty day simple moving average is $80.26 and its two-hundred day simple moving average is $86.41. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $125.90 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

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

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred 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 directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Annapolis Financial Services LLC lifted its holdings in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the period. True Wealth Design LLC lifted its holdings in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the period. Core Wealth Advisors Inc. lifted its holdings in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares during the period. Frank Rimerman Advisors LLC bought a new position in shares of NIKE during the 4th quarter valued at $33,000. Finally, Pineridge Advisors LLC bought a new position in shares of NIKE during the 4th quarter valued at $38,000. 64.25% of the stock is owned by institutional investors.

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.