NIKE (NYSE:NKE) Price Target Lowered to $81.00 at Barclays

NIKE (NYSE:NKE) had its price target lowered by research analysts at Barclays from $84.00 to $81.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the footwear maker’s stock. Barclays‘s target price indicates a potential downside of 2.48% from the company’s previous close.

Several other brokerages also recently weighed in on NKE. Truist Financial cut their price target on NIKE from $85.00 to $83.00 and set a “hold” rating on the stock in a research report on Wednesday. Piper Sandler restated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Sanford C. Bernstein cut their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Robert W. Baird raised their price target on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $96.04.

NIKE Stock Down 6.8 %

NYSE NKE traded down $6.07 during trading on Wednesday, hitting $83.06. The company’s stock had a trading volume of 25,218,316 shares, compared to its average volume of 11,716,159. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a market cap of $125.37 billion, a PE ratio of 22.43, a P/E/G ratio of 2.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The business’s 50 day simple moving average is $80.26 and its 200-day simple moving average is $86.41.

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

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the 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 sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 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. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NIKE

A number of large investors have recently modified their holdings of the business. Annapolis Financial Services LLC grew its holdings in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC boosted its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of NIKE during the 4th quarter worth $33,000. Core Wealth Advisors Inc. increased its holdings in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $38,000. 64.25% of the stock is 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.