JPMorgan Chase & Co. Issues Pessimistic Forecast for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its price target lowered by research analysts at JPMorgan Chase & Co. from $73.00 to $64.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the footwear maker’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 5.90% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada lowered their price objective on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday. UBS Group lowered their price objective on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday. Guggenheim reissued a “buy” rating and issued a $110.00 price target on shares of NIKE in a research report on Wednesday, February 12th. Finally, BMO Capital Markets decreased their price target on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average price target of $87.38.

NIKE Stock Performance

NIKE stock opened at $68.02 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a market cap of $100.60 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The firm has a 50 day simple moving average of $74.70 and a 200-day simple moving average of $77.43. NIKE has a 1-year low of $65.17 and a 1-year high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. On average, analysts expect that NIKE will post 2.05 EPS for the current year.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NKE. Heck Capital Advisors LLC acquired a new position in NIKE in the fourth quarter valued at $28,000. Caitlin John LLC increased its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America acquired a new position in NIKE in the third quarter valued at $30,000. Roxbury Financial LLC acquired a new position in NIKE in the fourth quarter valued at $30,000. Finally, LFA Lugano Financial Advisors SA increased its stake in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares during the period. 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.