Piper Sandler Reiterates Neutral Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE)‘s stock had its “neutral” rating restated by investment analysts at Piper Sandler in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $80.00 price objective on the footwear maker’s stock. Piper Sandler’s price objective suggests a potential downside of 6.83% from the company’s current price.

A number of other research analysts also recently issued reports on the company. StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Morgan Stanley reissued an “equal weight” rating and issued a $79.00 price objective on shares of NIKE in a research report on Friday. Barclays raised their target price on shares of NIKE from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Wednesday. Robert W. Baird boosted their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Oppenheimer restated an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.15.

NIKE Stock Up 6.0 %

Shares of NKE traded up $4.88 on Friday, hitting $85.86. The company’s stock had a trading volume of 34,126,524 shares, compared to its average volume of 11,401,809. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $129.59 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 2.08 and a beta of 1.02. The firm’s fifty day moving average price is $77.84 and its 200-day moving average price is $87.23. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

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

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the 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 in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently bought and sold shares of NKE. Vanguard Group Inc. lifted its holdings in shares of NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after acquiring an additional 501,792 shares during the period. Capital International Investors lifted its stake in NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Legal & General Group Plc increased its stake in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of NIKE by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after buying an additional 211,360 shares in the last quarter. 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.