NIKE (NYSE:NKE) Price Target Lowered to $90.00 at BTIG Research

NIKE (NYSE:NKE) had its price objective decreased by BTIG Research from $100.00 to $90.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the footwear maker’s stock. BTIG Research’s target price points to a potential upside of 68.45% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Sanford C. Bernstein reaffirmed a “buy” rating on shares of NIKE in a research report on Thursday, March 5th. Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a research report on Thursday, March 12th. Guggenheim reissued a “buy” rating on shares of NIKE in a research note on Wednesday, December 31st. Telsey Advisory Group decreased their price objective on shares of NIKE from $75.00 to $72.00 and set a “market perform” rating for the company in a report on Friday, December 19th. Finally, Bank of America reduced their target price on shares of NIKE from $84.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Twenty-three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $74.58.

NIKE Stock Down 3.1%

Shares of NKE opened at $53.43 on Thursday. The company has a market cap of $79.10 billion, a PE ratio of 31.43, a P/E/G ratio of 2.82 and a beta of 1.27. The business has a fifty day moving average of $61.94 and a 200 day moving average of $65.12. NIKE has a 52-week low of $52.28 and a 52-week high of $80.17. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.19 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts expect that NIKE will post 2.05 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert Holmes Swan acquired 8,691 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was purchased at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the purchase, the director directly owned 43,293 shares of the company’s stock, valued at $2,491,079.22. This trade represents a 25.12% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Elliott Hill bought 16,388 shares of the business’s stock in a transaction on Monday, December 29th. The stock was bought at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the purchase, the chief executive officer directly owned 241,587 shares of the company’s stock, valued at $14,760,965.70. The trade was a 7.28% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 75,079 shares of company stock worth $4,449,887 in the last three months. 0.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cornerstone Planning LLC acquired a new position in shares of NIKE during the fourth quarter worth $1,431,000. Bank of New Hampshire boosted its position in shares of NIKE by 3,257.1% in the 4th quarter. Bank of New Hampshire now owns 1,175 shares of the footwear maker’s stock worth $75,000 after purchasing an additional 1,140 shares in the last quarter. World Investment Advisors raised its stake in NIKE by 1.2% in the fourth quarter. World Investment Advisors now owns 54,578 shares of the footwear maker’s stock valued at $3,477,000 after buying an additional 644 shares during the last quarter. ARP Global Capital Ltd acquired a new position in shares of NIKE during the fourth quarter valued at about $4,715,000. Finally, Farmers National Bank grew its position in NIKE by 10.1% during the 4th quarter. Farmers National Bank now owns 6,489 shares of the footwear maker’s stock worth $413,000 after purchasing an additional 596 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).