NIKE (NYSE:NKE) PT Lowered to $105.00

NIKE (NYSE:NKE) had its price objective reduced by investment analysts at Evercore ISI from $110.00 to $105.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the footwear maker’s stock. Evercore ISI’s target price indicates a potential upside of 25.88% from the company’s current price.

Several other research firms have also weighed in on NKE. The Goldman Sachs Group reduced their target price on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. TD Cowen reduced their target price on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Citigroup dropped their price target on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Finally, Wedbush dropped their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.19.

NIKE Stock Down 6.4 %

Shares of NIKE stock traded down $5.72 during trading on Wednesday, hitting $83.41. 13,742,170 shares of the stock traded hands, compared to its average volume of 11,643,338. The stock has a market cap of $125.90 billion, a P/E ratio of 22.36, a PEG ratio of 2.30 and a beta of 1.02. 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 twelve month low of $70.75 and a twelve month high of $123.39. The company has a fifty day moving average price of $80.26 and a two-hundred day moving average price of $86.41.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the company earned $0.94 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities research analysts predict that NIKE will post 3.04 EPS for the current fiscal year.

Insider Activity

In other 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 completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE 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 disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of hedge funds have recently added to or reduced their stakes in the stock. Jacobs & Co. CA increased its stake in NIKE by 8.5% during the 3rd quarter. Jacobs & Co. CA now owns 150,818 shares of the footwear maker’s stock worth $13,332,000 after acquiring an additional 11,877 shares during the period. Mattson Financial Services LLC bought a new position in NIKE during the 2nd quarter worth $887,000. Centaurus Financial Inc. increased its stake in NIKE by 180.8% during the 2nd quarter. Centaurus Financial Inc. now owns 4,490 shares of the footwear maker’s stock worth $338,000 after acquiring an additional 2,891 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in NIKE by 625.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,900 shares of the footwear maker’s stock worth $5,796,000 after acquiring an additional 66,299 shares during the period. Finally, American Trust increased its stake in NIKE by 4.5% during the 2nd quarter. American Trust now owns 46,076 shares of the footwear maker’s stock worth $3,473,000 after acquiring an additional 1,969 shares during the period. 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.