NIKE (NYSE:NKE) Price Target Lowered to $92.00 at BMO Capital Markets

NIKE (NYSE:NKE) had its target price lowered by investment analysts at BMO Capital Markets from $95.00 to $92.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the footwear maker’s stock. BMO Capital Markets’ target price points to a potential upside of 35.35% from the company’s current price.

Several other equities research analysts have also weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. Morgan Stanley reduced their price target on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Finally, 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. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.54.

NIKE Trading Down 5.4 %

NYSE:NKE traded down $3.89 on Friday, hitting $67.97. 36,488,918 shares of the stock were exchanged, compared to its average volume of 12,351,128. NIKE has a fifty-two week low of $65.25 and a fifty-two week high of $101.92. The stock has a fifty day moving average of $74.77 and a 200-day moving average of $77.56. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market cap of $100.54 billion, a PE ratio of 20.92, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. As a group, equities analysts expect that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’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 transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently made changes to their positions in the stock. Range Financial Group LLC acquired a new position in NIKE during the fourth quarter valued at approximately $642,000. Cacti Asset Management LLC bought a new position in NIKE in the 4th quarter worth $9,987,000. Capricorn Fund Managers Ltd acquired a new position in NIKE during the 4th quarter worth $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after acquiring an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC grew its position in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the last quarter. Institutional investors and hedge funds 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.