NIKE (NYSE:NKE) Price Target Cut to $140.00

NIKE (NYSE:NKEGet Rating) had its price objective reduced by analysts at Telsey Advisory Group from $170.00 to $140.00 in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm currently has an “outperform” rating on the footwear maker’s stock. Telsey Advisory Group’s price target would indicate a potential upside of 29.63% from the company’s previous close. Telsey Advisory Group also issued estimates for NIKE’s Q4 2022 earnings at $0.83 EPS, Q1 2023 earnings at $1.19 EPS and Q2 2023 earnings at $0.98 EPS.

A number of other equities research analysts have also recently issued reports on the company. HSBC lowered their price objective on NIKE from $140.00 to $132.00 and set a “hold” rating on the stock in a research note on Tuesday, June 14th. Barclays dropped their price target on shares of NIKE from $161.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday. Stifel Nicolaus reduced their price objective on shares of NIKE from $160.00 to $150.00 in a research note on Monday, June 6th. Citigroup lowered their target price on shares of NIKE from $157.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. set a $164.00 price target on NIKE in a report on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.85.

Shares of NKE stock opened at $108.00 on Wednesday. The company has a quick ratio of 2.18, a current ratio of 3.06 and a debt-to-equity ratio of 0.64. The firm has a market cap of $169.97 billion, a P/E ratio of 28.50, a PEG ratio of 1.74 and a beta of 0.96. The company has a 50 day moving average of $117.21 and a 200-day moving average of $135.06. NIKE has a 12-month low of $103.46 and a 12-month high of $179.10.

NIKE (NYSE:NKEGet Rating) last announced its quarterly earnings data on Monday, March 21st. The footwear maker reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.14. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The business had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.61 billion. During the same period in the prior year, the company earned $0.90 earnings per share. NIKE’s revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts expect that NIKE will post 3.68 EPS for the current year.

In other news, COO Andrew Campion sold 14,203 shares of the company’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $120.61, for a total value of $1,713,023.83. Following the completion of the sale, the chief operating officer now owns 73,795 shares of the company’s stock, valued at approximately $8,900,414.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Friend sold 9,032 shares of the stock in a transaction on Monday, June 13th. The shares were sold at an average price of $110.52, for a total transaction of $998,216.64. Following the transaction, the chief financial officer now directly owns 51,581 shares in the company, valued at approximately $5,700,732.12. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Aquire Wealth Advisors LLC bought a new position in NIKE during the 4th quarter worth approximately $26,000. Retirement Planning Co of New England Inc. purchased a new stake in shares of NIKE during the fourth quarter valued at approximately $26,000. FNY Investment Advisers LLC bought a new position in shares of NIKE in the first quarter worth approximately $26,000. Antonetti Capital Management LLC grew its holdings in shares of NIKE by 900.0% in the first quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker’s stock worth $27,000 after purchasing an additional 180 shares during the last quarter. Finally, Horan Securities Inc. purchased a new position in shares of NIKE in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 65.35% of the company’s stock.

NIKE Company Profile (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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