NIKE (NYSE:NKE) PT Lowered to $82.00

by · The Markets Daily

NIKE (NYSE:NKE – Get Free Report) had its price objective reduced by equities research analysts at Royal Bank of Canada from $85.00 to $82.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the footwear maker’s stock. Royal Bank of Canada’s price objective would suggest a potential downside of 0.13% from the stock’s previous close.

Several other research firms have also recently weighed in on NKE. TD Cowen dropped their price target on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Evercore ISI lifted their target price on NIKE from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Bank of America reduced their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday. Wedbush lowered their price target on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Morgan Stanley lifted their price objective on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Fifteen research 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 company presently has an average rating of “Moderate Buy” and an average target price of $96.04.

View Our Latest Research Report on NKE

NIKE Price Performance

NYSE:NKE opened at $82.11 on Wednesday. The firm’s fifty day moving average price is $80.71 and its two-hundred day moving average price is $86.36. 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 company has a market cap of $123.93 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.30 and a beta of 1.02. NIKE has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating 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%. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 EPS. Equities analysts expect that NIKE will post 3.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several large investors have recently modified their holdings of NKE. Cim LLC bought a new position in NIKE during the 4th quarter worth $14,275,000. TKG Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $1,012,000. Spartan Planning & Wealth Management bought a new position in shares of NIKE during the fourth quarter worth about $182,000. Advisors Asset Management Inc. lifted 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 worth $1,970,000 after acquiring an additional 9,689 shares during the period. Finally, Enzi Wealth bought a new stake in NIKE in the fourth quarter valued at approximately $520,000. Institutional investors own 64.25% of the company’s stock.

About NIKE

(Get Free Report)

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.

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