NIKE (NYSE:NKE) PT Raised to $84.00

NIKE (NYSE:NKE) had its price target hoisted by stock analysts at Barclays from $80.00 to $84.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the footwear maker’s stock. Barclays‘s target price would indicate a potential upside of 3.74% from the company’s current price.

NKE has been the topic of a number of other research reports. Citigroup cut their price objective on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Morgan Stanley reissued an “equal weight” rating and set a $79.00 target price (down previously from $114.00) on shares of NIKE in a research report on Friday, June 28th. Wedbush dropped their target price 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, Evercore ISI dropped their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $95.33.

NIKE Stock Up 0.1 %

Shares of NIKE stock opened at $80.97 on Wednesday. The firm’s 50 day moving average price is $77.84 and its 200-day moving average price is $87.23. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a market cap of $122.21 billion, a P/E ratio of 21.71, a PEG ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts predict that NIKE will post 3.06 EPS for the current fiscal year.

Insider Activity

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of hedge funds have recently modified their holdings of the company. Cim LLC purchased a new position in NIKE during the fourth quarter worth about $14,275,000. TKG Advisors LLC purchased a new position in NIKE during the fourth quarter worth about $1,012,000. Spartan Planning & Wealth Management purchased a new position in NIKE during the fourth quarter worth about $182,000. Edmond DE Rothschild Holding S.A. boosted its stake in NIKE by 27.9% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock worth $12,301,000 after buying an additional 24,686 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in NIKE by 86.0% during the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after buying an additional 9,689 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.