NIKE (NYSE:NKE) PT Raised to $85.00 at Truist Financial

NIKE (NYSE:NKE) had its price objective boosted by investment analysts at Truist Financial from $81.00 to $85.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the footwear maker’s stock. Truist Financial’s price objective suggests a potential downside of 1.76% from the company’s current price.

Several other equities research analysts have also weighed in on NKE. Wells Fargo & Company lifted their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $79.00 target price on shares of NIKE in a research report on Friday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $92.00 price target on shares of NIKE in a research note on Friday. Citigroup cut their price objective on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $96.15.

NIKE Stock Performance

NYSE:NKE opened at $86.52 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market cap of $130.59 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The firm’s fifty day simple moving average is $78.11 and its 200 day simple moving average is $87.06.

NIKE (NYSE:NKE) last announced its quarterly earnings results 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. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, research analysts predict that NIKE will post 3.06 EPS for the current year.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 9258 Wealth Management LLC increased its holdings in NIKE by 23.9% in the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after acquiring an additional 842 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in shares of NIKE by 34.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after purchasing an additional 2,981 shares in the last quarter. TrinityPoint Wealth LLC raised its position in shares of NIKE by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock valued at $2,341,000 after purchasing an additional 166 shares during the period. GW&K Investment Management LLC lifted its stake in shares of NIKE by 26.4% during the 4th quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock valued at $66,000 after buying an additional 126 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in NIKE by 6.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock worth $13,767,000 after buying an additional 7,769 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

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.