NIKE (NYSE:NKE) Price Target Cut to $82.00 by Analysts at Truist Financial

NIKE (NYSE:NKE) had its price objective dropped by research analysts at Truist Financial from $90.00 to $82.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the footwear maker’s stock. Truist Financial’s price target would indicate a potential upside of 14.51% from the company’s previous close.

A number of other analysts have also recently commented on NKE. Deutsche Bank Aktiengesellschaft cut their target price 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 cut their target price on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Barclays dropped their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.65.

NIKE Stock Down 1.9 %

NKE stock opened at $71.61 on Friday. The stock has a market capitalization of $105.92 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.52 and a beta of 1.02. The firm has a 50-day simple moving average of $74.77 and a 200-day simple moving average of $77.56. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE has a 52 week low of $65.80 and a 52 week high of $101.92.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. Equities analysts forecast that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of hedge funds have recently added to or reduced their stakes in the business. JNBA Financial Advisors lifted its holdings in NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after buying an additional 131 shares in the last quarter. Frisch Financial Group Inc. lifted its holdings in NIKE by 4.7% during the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after buying an additional 136 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after buying an additional 136 shares in the last quarter. Elgethun Capital Management increased its position in shares of NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after purchasing an additional 149 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of NIKE by 1.0% in the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after purchasing an additional 150 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.