BMO Capital Markets Raises NIKE (NYSE:NKE) Price Target to $95.00

NIKE (NYSE:NKE) had its price objective raised by investment analysts at BMO Capital Markets from $92.00 to $95.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the footwear maker’s stock. BMO Capital Markets’ target price suggests a potential upside of 23.72% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Needham & Company LLC restated a “buy” rating and set a $84.00 price target on shares of NIKE in a research note on Friday, December 20th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Stifel Nicolaus dropped their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Finally, DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE Stock Performance

NIKE stock opened at $76.79 on Monday. The stock has a fifty day moving average price of $75.54 and a 200 day moving average price of $78.09. NIKE has a 52 week low of $70.32 and a 52 week high of $107.43. The firm has a market capitalization of $113.57 billion, a P/E ratio of 23.70, a PEG ratio of 2.50 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities research analysts anticipate that NIKE will post 2.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC bought a new position in shares of NIKE during the fourth quarter worth about $28,000. Caitlin John LLC boosted its stake in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the 3rd quarter worth about $30,000. Roxbury Financial LLC acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department bought a new stake in shares of NIKE during the fourth quarter valued at approximately $34,000. 64.25% of the stock is currently owned by 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.