NIKE (NYSE:NKE – Get Rating) had its target price lowered by equities researchers at Bank of America from $122.00 to $100.00 in a report released on Friday, The Fly reports. Bank of America's target price suggests a potential upside of 4.90% from the company's previous close.
NKE has been the topic of a number of other research reports. Seaport Res Ptn lowered NIKE from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 22nd. Royal Bank of Canada set a $125.00 target price on NIKE in a research report on Wednesday. Barclays lowered NIKE from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $125.00 to $110.00 in a research report on Tuesday, September 20th. HSBC cut their target price on NIKE from $140.00 to $132.00 and set a "hold" rating on the stock in a research report on Tuesday, June 14th. Finally, Credit Suisse Group cut their target price on NIKE from $124.00 to $110.00 in a research report on Friday. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $123.31.
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NKE stock opened at $95.33 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84. The firm has a market capitalization of $149.53 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.18 and a beta of 1.03. The business's 50-day moving average is $108.58 and its two-hundred day moving average is $114.90. NIKE has a 1 year low of $94.48 and a 1 year high of $179.10.
NIKE (NYSE:NKE – Get Rating) last posted its quarterly earnings results on Thursday, September 29th. The footwear maker reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.01. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 40.74% and a net margin of 12.94%. NIKE's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS. Analysts anticipate that NIKE will post 3.69 earnings per share for the current fiscal year.NIKE declared that its Board of Directors has authorized a stock repurchase plan on Monday, June 27th that authorizes the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization authorizes the footwear maker to purchase up to 11% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.
Insider Buying and Selling at NIKE
In other NIKE news, EVP Monique S. Matheson sold 19,500 shares of NIKE stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $103.45, for a total value of $2,017,275.00. Following the transaction, the executive vice president now directly owns 80,355 shares in the company, valued at approximately $8,312,724.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Monique S. Matheson sold 19,500 shares of NIKE stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $103.45, for a total value of $2,017,275.00. Following the sale, the executive vice president now directly owns 80,355 shares in the company, valued at $8,312,724.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Matthew Friend sold 4,139 shares of NIKE stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total value of $469,445.38. Following the completion of the sale, the chief financial officer now owns 56,539 shares in the company, valued at $6,412,653.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,561 shares of company stock worth $6,374,094. 0.40% of the stock is currently owned by insiders.
Institutional Trading of NIKE
Institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC purchased a new stake in shares of NIKE in the first quarter valued at approximately $26,000. Antonetti Capital Management LLC raised its holdings in NIKE by 900.0% during the first quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker's stock worth $27,000 after purchasing an additional 180 shares during the last quarter. Rise Advisors LLC acquired a new position in NIKE during the fourth quarter worth $40,000. Mark Sheptoff Financial Planning LLC raised its holdings in NIKE by 6,250.0% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 254 shares of the footwear maker's stock worth $34,000 after purchasing an additional 250 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA raised its holdings in NIKE by 63.3% during the second quarter. LFA Lugano Financial Advisors SA now owns 258 shares of the footwear maker's stock worth $26,000 after purchasing an additional 100 shares during the last quarter. 64.19% of the stock is currently owned by hedge funds and other institutional investors.
NIKE Company Profile
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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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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