Evercore ISI Raises NIKE (NYSE:NKE) Price Target to $110.00

NIKE (NYSE:NKE) had its price objective lifted by investment analysts at Evercore ISI from $105.00 to $110.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the footwear maker’s stock. Evercore ISI’s price target suggests a potential upside of 35.85% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group lowered their price target on shares of NIKE from $90.00 to $80.00 in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $92.00 target price on shares of NIKE in a report on Friday. JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 price objective (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. Barclays boosted their target price on shares of NIKE from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Sanford C. Bernstein reduced their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.89.

NIKE Trading Up 0.1 %

NYSE:NKE opened at $80.97 on Friday. The firm has a market capitalization of $122.21 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.08 and a beta of 1.02. The business’s 50-day moving average price is $77.84 and its two-hundred day moving average price is $87.23. 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.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. On average, equities analysts expect that NIKE will post 3.06 earnings per share for the current year.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Capital International Investors increased its position in shares of NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares during the last quarter. Longview Partners Guernsey LTD acquired a new stake in shares of NIKE in the 1st quarter valued at about $533,533,000. Capital World Investors raised its position in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after buying an additional 2,775,510 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.