Telsey Advisory Group Reiterates “Outperform” Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE)‘s stock had its “outperform” rating reaffirmed by research analysts at Telsey Advisory Group in a report issued on Friday, Benzinga reports. They currently have a $100.00 price target on the footwear maker’s stock. Telsey Advisory Group’s price target indicates a potential upside of 15.58% from the company’s current price.

Several other brokerages have also issued reports on NKE. Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 price target on shares of NIKE in a report on Friday. Truist Financial increased their price objective on NIKE from $81.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday. HSBC lowered their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, June 28th. TD Cowen lowered their price objective on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Finally, Royal Bank of Canada lowered their price objective on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 2nd. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.15.

NIKE Stock Up 6.8 %

Shares of NYSE:NKE opened at $86.52 on Friday. The business’s 50 day simple moving average is $78.11 and its two-hundred day simple moving average is $87.06. The firm has a market cap of $130.59 billion, a P/E ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings results 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. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. As a group, research analysts forecast that NIKE will post 3.06 EPS for the current fiscal year.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NIKE

A number of large investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in NIKE by 625.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,900 shares of the footwear maker’s stock valued at $5,796,000 after purchasing an additional 66,299 shares in the last quarter. American Trust raised its position in NIKE by 4.5% during the second quarter. American Trust now owns 46,076 shares of the footwear maker’s stock valued at $3,473,000 after purchasing an additional 1,969 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in NIKE by 27.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,238 shares of the footwear maker’s stock valued at $93,000 after purchasing an additional 264 shares in the last quarter. SS&H Financial Advisors Inc. increased its holdings in shares of NIKE by 1.3% in the second quarter. SS&H Financial Advisors Inc. now owns 18,961 shares of the footwear maker’s stock worth $1,429,000 after buying an additional 235 shares during the period. Finally, Heritage Wealth Management Inc. purchased a new position in shares of NIKE in the second quarter worth about $207,000. 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.