NIKE (NYSE:NKE) Rating Reiterated by Oppenheimer

NIKE (NYSE:NKE)‘s stock had its “outperform” rating reaffirmed by Oppenheimer in a note issued to investors on Friday, Benzinga reports. They currently have a $120.00 price objective on the footwear maker’s stock. Oppenheimer’s target price indicates a potential upside of 59.21% from the company’s previous close.

A number of other research analysts also recently commented on NKE. Truist Financial reaffirmed a “hold” rating and issued a $99.00 price target on shares of NIKE in a research note on Thursday, June 20th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of NIKE in a research note on Tuesday, April 30th. StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Jefferies Financial Group lowered their target price on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Finally, Sanford C. Bernstein lowered their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $98.96.

NIKE Trading Down 20.0 %

Shares of NIKE stock opened at $75.37 on Friday. The firm has a 50-day moving average of $93.28 and a 200-day moving average of $99.00. The stock has a market cap of $113.76 billion, a PE ratio of 20.21, a PEG ratio of 1.79 and a beta of 1.05. NIKE has a 52-week low of $74.55 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, sell-side analysts forecast that NIKE will post 3.9 EPS for the current year.

Insider Activity at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 over the last ninety days. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently modified their holdings of the business. NBW Capital LLC boosted its holdings in shares of NIKE by 0.9% during the 1st quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock worth $4,468,000 after buying an additional 431 shares in the last quarter. IMS Capital Management raised its position in shares of NIKE by 2.7% during the first quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock worth $2,127,000 after purchasing an additional 589 shares during the period. American Trust raised its position in shares of NIKE by 9.5% during the first quarter. American Trust now owns 44,107 shares of the footwear maker’s stock worth $4,145,000 after purchasing an additional 3,833 shares during the period. Portland Hill Asset Management Ltd acquired a new position in shares of NIKE during the first quarter worth approximately $958,000. Finally, Soltis Investment Advisors LLC raised its position in shares of NIKE by 62.6% during the first quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock worth $2,675,000 after purchasing an additional 10,958 shares during the period. 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.