Robert W. Baird Boosts NIKE (NYSE:NKE) Price Target to $110.00

NIKE (NYSE:NKE) had its price objective increased by stock analysts at Robert W. Baird from $100.00 to $110.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the footwear maker’s stock. Robert W. Baird’s price objective would suggest a potential upside of 35.85% from the stock’s previous close.

A number of other research analysts also recently weighed in on NKE. Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 price objective (down previously from $114.00) on shares of NIKE in a research report on Friday, June 28th. StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Citigroup reduced their target price on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group cut their target price on shares of NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Finally, Raymond James reissued a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $95.70.

NIKE Trading Up 0.1 %

Shares of NYSE:NKE opened at $80.97 on Friday. The stock has a market cap of $122.21 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.08 and a beta of 1.02. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The business has a 50-day moving average price of $77.84 and a 200-day moving average price of $87.23. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

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

Insider Activity at NIKE

In related news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at approximately $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

A number of hedge funds and other institutional investors have recently bought and sold shares of NKE. Cim LLC purchased a new position in NIKE during the fourth quarter worth about $14,275,000. TKG Advisors LLC acquired a new position in NIKE during the 4th quarter worth approximately $1,012,000. Spartan Planning & Wealth Management purchased a new position in shares of NIKE during the 4th quarter worth approximately $182,000. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of NIKE by 27.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock valued at $12,301,000 after buying an additional 24,686 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other 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.