UBS Group Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its target price reduced by UBS Group from $73.00 to $66.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the footwear maker’s stock. UBS Group’s price objective indicates a potential downside of 2.96% from the company’s current price.

A number of other equities analysts have also weighed in on NKE. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and cut their target price for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Truist Financial cut their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday. Finally, Barclays cut their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Price Performance

Shares of NYSE NKE opened at $68.02 on Friday. NIKE has a twelve month low of $65.17 and a twelve month high of $98.04. The firm has a market cap of $100.60 billion, a P/E ratio of 20.99, a PEG ratio of 2.52 and a beta of 1.02. The company has a 50 day moving average of $74.70 and a 200 day moving average of $77.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, research analysts expect that NIKE will post 2.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several hedge funds have recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC bought a new position in NIKE during the 4th quarter valued at about $28,000. Caitlin John LLC grew its holdings in NIKE by 117.0% during the 4th 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 last quarter. Teachers Insurance & Annuity Association of America bought a new position in NIKE during the 3rd quarter valued at about $30,000. Roxbury Financial LLC bought a new position in NIKE during the 4th quarter valued at about $30,000. Finally, LFA Lugano Financial Advisors SA grew its holdings in NIKE by 110.5% during the 4th 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 last quarter. 64.25% of the stock is currently owned by institutional investors.

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.