Telsey Advisory Group Reaffirms Market Perform Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE)‘s stock had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They presently have a $80.00 price target on the footwear maker’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 3.65% from the company’s previous close.

NKE has been the topic of a number of other reports. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Stifel Nicolaus reduced their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Morgan Stanley reduced their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Finally, BMO Capital Markets boosted their target price on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Stock Up 0.5 %

Shares of NKE stock opened at $77.19 on Wednesday. The stock has a market cap of $114.17 billion, a P/E ratio of 23.82, a PEG ratio of 2.53 and a beta of 1.01. NIKE has a 52 week low of $68.62 and a 52 week high of $106.62. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $74.33 and its two-hundred day simple moving average is $78.05.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. Analysts predict that NIKE will post 2.05 EPS for the current fiscal year.

Insider Transactions at NIKE

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

Institutional Investors Weigh In On NIKE

A number of hedge funds and other institutional investors have recently bought and sold shares of NKE. Heck Capital Advisors LLC purchased a new stake in NIKE during the fourth quarter valued at approximately $28,000. Caitlin John LLC lifted its position in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE during the third quarter valued at approximately $30,000. Roxbury Financial LLC purchased a new stake in NIKE during the fourth quarter valued at approximately $30,000. Finally, LFA Lugano Financial Advisors SA lifted its position in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.