BMO Capital Markets Raises NIKE (NYSE:NKE) Price Target to $95.00

NIKE (NYSE:NKE) had its target price hoisted by analysts at BMO Capital Markets from $92.00 to $95.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the footwear maker’s stock. BMO Capital Markets’ price objective suggests a potential upside of 23.67% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Barclays reduced their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Morgan Stanley reduced their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Robert W. Baird reduced their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price objective on shares of NIKE in a research report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE Price Performance

NYSE:NKE opened at $76.82 on Monday. NIKE has a 1-year low of $70.32 and a 1-year high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $75.60 and a 200 day simple moving average of $78.06. The stock has a market capitalization of $113.62 billion, a PE ratio of 23.71, a P/E/G ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the business earned $1.03 earnings per share. The firm’s revenue was down 7.7% on a year-over-year basis. On average, research analysts expect that NIKE will post 2.05 EPS for the current fiscal year.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NIKE

A number of institutional investors have recently modified their holdings of the company. Garrison Point Advisors LLC raised its position in NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after buying an additional 126 shares during the last quarter. Stephens Consulting LLC increased its position in shares of NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC increased its position in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares during the last quarter. JNBA Financial Advisors increased its position in shares of NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after purchasing an additional 131 shares during the last quarter. Finally, Chapin Davis Inc. grew its stake in shares of NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

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.