NIKE (NYSE:NKE) PT Lowered to $109.00 at Sanford C. Bernstein

NIKE (NYSE:NKE) had its price target dropped by research analysts at Sanford C. Bernstein from $112.00 to $109.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the footwear maker’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 34.67% from the stock’s current price.

A number of other equities research analysts also recently weighed in on NKE. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $83.00 target price (down previously from $116.00) on shares of NIKE in a research report on Friday, June 28th. Wells Fargo & Company decreased their target price on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Telsey Advisory Group decreased their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, BMO Capital Markets reduced their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.33.

NIKE Stock Up 0.4 %

Shares of NYSE:NKE opened at $80.94 on Thursday. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $77.69 and a 200 day simple moving average of $87.28. The firm has a market cap of $122.17 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. NIKE has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that NIKE will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction 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 in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. American Trust boosted its stake in NIKE by 4.5% during the 2nd quarter. American Trust now owns 46,076 shares of the footwear maker’s stock valued at $3,473,000 after purchasing an additional 1,969 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of NIKE by 27.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,238 shares of the footwear maker’s stock worth $93,000 after purchasing an additional 264 shares during the last quarter. SS&H Financial Advisors Inc. increased its holdings in shares of NIKE by 1.3% in the second quarter. SS&H Financial Advisors Inc. now owns 18,961 shares of the footwear maker’s stock worth $1,429,000 after purchasing an additional 235 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of NIKE in the second quarter worth about $207,000. Finally, Sanctuary Advisors LLC purchased a new position in NIKE in the second quarter worth about $11,390,000. Institutional investors own 64.25% of the company’s stock.

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.