NIKE (NYSE:NKE) Given New $54.00 Price Target at Deutsche Bank Aktiengesellschaft

NIKE (NYSE:NKE) had its price objective dropped by investment analysts at Deutsche Bank Aktiengesellschaft from $67.00 to $54.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the footwear maker’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 1.28% from the company’s previous close.

NKE has been the subject of a number of other reports. Berenberg Bank reiterated a “neutral” rating and set a $70.00 price target on shares of NIKE in a research report on Friday, December 19th. KeyCorp dropped their price objective on NIKE from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Daiwa Securities Group reduced their price objective on NIKE from $75.00 to $61.00 in a report on Tuesday, December 23rd. Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a research report on Thursday, March 12th. Finally, Piper Sandler set a $75.00 target price on NIKE and gave the company an “overweight” rating in a report on Friday, December 19th. Twenty-two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.43.

NIKE Price Performance

Shares of NYSE:NKE traded up $0.95 on Monday, reaching $53.32. 9,548,320 shares of the company were exchanged, compared to its average volume of 15,720,973. The company has a 50-day moving average of $61.43 and a 200-day moving average of $64.73. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The firm has a market cap of $78.93 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.68 and a beta of 1.27. NIKE has a 1-year low of $52.17 and a 1-year high of $80.17.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.19 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Equities analysts forecast that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling at NIKE

In other news, CEO Elliott Hill acquired 16,388 shares of NIKE stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average price of $61.10 per share, with a total value of $1,001,306.80. Following the completion of the purchase, the chief executive officer owned 241,587 shares of the company’s stock, valued at approximately $14,760,965.70. This represents a 7.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Hedge funds and other institutional investors have recently made changes to their positions in the business. Main Street Financial Solutions LLC lifted its position in NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after buying an additional 139 shares during the period. St. Clair Advisors LLC lifted its holdings in shares of NIKE by 0.9% during the 3rd quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock worth $1,061,000 after acquiring an additional 140 shares during the period. Spirepoint Private Client LLC lifted its holdings in shares of NIKE by 0.4% during the 3rd quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker’s stock worth $2,520,000 after acquiring an additional 153 shares during the period. Diligent Investors LLC boosted its position in shares of NIKE by 4.3% in the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock worth $237,000 after acquiring an additional 153 shares during the last quarter. Finally, CVA Family Office LLC boosted its position in shares of NIKE by 8.0% in the third quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker’s stock worth $147,000 after acquiring an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

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).