NIKE (NYSE:NKE) PT Raised to $82.00

NIKE (NYSE:NKE) had its target price raised by UBS Group from $78.00 to $82.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the footwear maker’s stock. UBS Group’s price target indicates a potential downside of 0.73% from the company’s previous close.

NKE has been the subject of several other research reports. BMO Capital Markets cut 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. Bank of America decreased their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. Robert W. Baird increased their target price on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. The Goldman Sachs Group decreased their price target on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.48.

NIKE Stock Performance

NKE traded down $6.53 during trading on Wednesday, hitting $82.60. The stock had a trading volume of 5,982,111 shares, compared to its average volume of 11,614,916. The firm has a market capitalization of $124.67 billion, a P/E ratio of 22.14, a PEG ratio of 2.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39. The company’s 50-day moving average price is $80.26 and its 200 day moving average price is $86.41.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 earnings per share. On average, equities research analysts forecast that NIKE will post 3.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on 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 directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 52,487 shares of the company’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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NKE. Kampmann Melissa S. grew its holdings in NIKE by 0.8% during the fourth quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after acquiring an additional 115 shares during the period. Ascent Wealth Partners LLC lifted its holdings in shares of NIKE by 0.4% in the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after purchasing an additional 115 shares in the last quarter. Condor Capital Management grew its holdings in shares of NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after buying an additional 116 shares in the last quarter. Bell Investment Advisors Inc raised its position in NIKE by 4.7% during the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after buying an additional 118 shares during the period. Finally, Lodestone Wealth Management LLC raised its position in NIKE by 5.5% during the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after buying an additional 118 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

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.