NIKE (NYSE:NKE) PT Raised to $82.00 at Morgan Stanley

NIKE (NYSE:NKE) had its price objective upped by equities researchers at Morgan Stanley from $79.00 to $82.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the footwear maker’s stock. Morgan Stanley’s price objective would suggest a potential downside of 8.27% from the stock’s previous close.

A number of other analysts have also weighed in on the company. The Goldman Sachs Group lowered their target price on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. UBS Group restated a “neutral” rating and issued a $78.00 target price on shares of NIKE in a research note on Friday, June 28th. Raymond James restated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Jefferies Financial Group lowered their target price on NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Finally, Citigroup lowered their target price on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.52.

NIKE Stock Performance

NIKE stock opened at $89.39 on Wednesday. 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 stock has a fifty day moving average price of $79.00 and a two-hundred day moving average price of $86.83. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a market capitalization of $134.92 billion, a P/E ratio of 24.08, a P/E/G ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts anticipate that NIKE will post 3.04 EPS for the current fiscal year.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction 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 sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares during the period. Capital International Investors lifted its position in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after buying an additional 7,996,434 shares during the last quarter. Legal & General Group Plc lifted its position in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of NIKE by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after buying an additional 211,360 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

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.