NIKE (NYSE:NKE) PT Raised to $85.00

NIKE (NYSE:NKE) had its price target upped by research analysts at Royal Bank of Canada from $75.00 to $85.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the footwear maker’s stock. Royal Bank of Canada’s target price suggests a potential downside of 4.91% from the company’s previous close.

NKE has been the subject of several other research reports. Truist Financial raised their price target on shares of NIKE from $81.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Citigroup decreased their target price on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 price target on shares of NIKE in a research report on Friday, September 20th. Guggenheim decreased their price objective on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $100.00 price objective on shares of NIKE in a report on Friday, September 20th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.52.

NIKE Stock Up 1.6 %

NKE stock opened at $89.39 on Wednesday. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market cap of $134.92 billion, a P/E ratio of 24.08, a P/E/G ratio of 2.30 and a beta of 1.02. The stock’s fifty day simple moving average is $79.00 and its two-hundred day simple moving average is $86.83. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. Analysts expect that NIKE will post 3.04 EPS for the current year.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Institutional Trading of NIKE

Several institutional investors have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC boosted its holdings in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC boosted its stake in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Core Wealth Advisors Inc. grew its holdings in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE in the fourth quarter worth approximately $33,000. Finally, Gold Investment Management Ltd. bought a new stake in NIKE during the 4th quarter valued at $36,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.