NIKE (NYSE:NKE) Stock Rating Reaffirmed by JPMorgan Chase & Co.

NIKE (NYSE:NKE)‘s stock had its “neutral” rating reissued by research analysts at JPMorgan Chase & Co. in a research report issued on Friday, Marketbeat.com reports. They currently have a $83.00 target price on the footwear maker’s stock, down from their previous target price of $116.00. JPMorgan Chase & Co.‘s price target indicates a potential downside of 11.91% from the stock’s previous close.

Several other equities research analysts also recently issued reports on NKE. Oppenheimer reissued an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research note on Friday. Evercore ISI dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday. Telsey Advisory Group dropped their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday. Robert W. Baird lowered their price objective on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Sanford C. Bernstein lowered their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $104.56.

NIKE Stock Up 0.2 %

Shares of NIKE stock opened at $94.23 on Friday. The firm has a market capitalization of $142.22 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. NIKE has a 12-month low of $88.66 and a 12-month high of $123.39. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average is $93.70 and its 200-day moving average is $99.48.

NIKE (NYSE:NKE) last announced 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. The firm 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 39.41% and a net margin of 10.14%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. Equities analysts anticipate that NIKE will post 3.81 earnings per share for the current year.

Insider Activity at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NIKE news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,660 shares of company stock worth $19,946,333. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Piscataqua Savings Bank grew its stake in shares of NIKE by 2.1% in the 4th quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after buying an additional 100 shares during the period. Physicians Financial Services Inc. lifted its position in shares of NIKE by 0.6% during the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after buying an additional 100 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its position in shares of NIKE by 4.0% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after buying an additional 100 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position in shares of NIKE by 0.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after buying an additional 100 shares in the last quarter. Finally, Claro Advisors LLC lifted its position in shares of NIKE by 0.8% during the 4th quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock worth $1,327,000 after buying an additional 101 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

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.