NIKE (NYSE:NKE) Price Target Cut to $92.00

NIKE (NYSE:NKE) had its target price reduced by analysts at Deutsche Bank Aktiengesellschaft from $115.00 to $92.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the footwear maker’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 22.28% from the stock’s current price.

A number of other equities analysts have also weighed in on NKE. Oppenheimer reissued an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. Williams Trading reissued a “sell” rating and set a $85.00 price target (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Morgan Stanley reiterated an “equal weight” rating and set a $79.00 target price (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. Finally, Wells Fargo & Company lowered their price target on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $97.19.

NIKE Price Performance

NKE stock opened at $75.24 on Wednesday. The stock’s 50 day moving average price is $92.19 and its 200 day moving average price is $98.06. The firm has a market cap of $113.56 billion, a P/E ratio of 20.17, a PEG ratio of 1.85 and a beta of 1.01. 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 1 year low of $74.29 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share. On average, sell-side analysts expect that NIKE will post 3.32 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by insiders.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently bought and sold shares of the company. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of NIKE by 19.5% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 8,299 shares of the footwear maker’s stock valued at $625,000 after acquiring an additional 1,356 shares in the last quarter. GAMMA Investing LLC increased its stake in NIKE by 50.4% during the second quarter. GAMMA Investing LLC now owns 16,473 shares of the footwear maker’s stock valued at $1,242,000 after purchasing an additional 5,521 shares during the last quarter. Transcend Capital Advisors LLC raised its holdings in shares of NIKE by 9.6% during the second quarter. Transcend Capital Advisors LLC now owns 12,229 shares of the footwear maker’s stock worth $922,000 after purchasing an additional 1,067 shares during the period. Confluence Investment Management LLC lifted its position in shares of NIKE by 31.4% in the 2nd quarter. Confluence Investment Management LLC now owns 228,972 shares of the footwear maker’s stock worth $17,258,000 after buying an additional 54,672 shares during the last quarter. Finally, NBW Capital LLC grew its position 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 valued at $4,468,000 after buying an additional 431 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.