NIKE (NYSE:NKE) Receives “Market Perform” Rating from Telsey Advisory Group

NIKE (NYSE:NKE)‘s stock had its “market perform” rating restated by investment analysts at Telsey Advisory Group in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $80.00 price target on the footwear maker’s stock. Telsey Advisory Group’s price objective points to a potential upside of 11.54% from the stock’s current price.

Other analysts have also issued reports about the company. Wells Fargo & Company dropped their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Truist Financial decreased their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Morgan Stanley lowered their target price on NIKE from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $89.54.

NIKE Trading Down 1.3 %

Shares of NKE stock opened at $71.72 on Monday. The firm has a market cap of $106.08 billion, a P/E ratio of 22.14, a PEG ratio of 2.52 and a beta of 1.02. The firm’s 50-day simple moving average is $74.68 and its 200-day simple moving average is $77.77. NIKE has a 1-year low of $68.62 and a 1-year high of $101.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping 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 company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, equities analysts forecast that NIKE will post 2.05 EPS for the current year.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Several institutional investors have recently modified their holdings of NKE. Centaurus Financial Inc. boosted its stake in NIKE by 9.6% during the fourth quarter. Centaurus Financial Inc. now owns 2,258 shares of the footwear maker’s stock worth $171,000 after buying an additional 198 shares in the last quarter. Aegis Wealth Management LLC acquired a new stake in shares of NIKE during the 4th quarter valued at about $295,000. Copia Wealth Management bought a new stake in NIKE in the fourth quarter valued at about $358,000. Wood Tarver Financial Group LLC acquired a new position in NIKE in the fourth quarter worth about $57,000. Finally, Probity Advisors Inc. boosted its holdings in NIKE by 49.4% during the fourth quarter. Probity Advisors Inc. now owns 12,221 shares of the footwear maker’s stock valued at $925,000 after purchasing an additional 4,042 shares in the last quarter. Institutional investors and hedge funds 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.