NIKE (NYSE:NKE) PT Lowered to $92.00

NIKE (NYSE:NKE) had its target price cut by Wells Fargo & Company from $115.00 to $92.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the footwear maker’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 22.06% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Stifel Nicolaus restated a “hold” rating and set a $88.00 target price (down previously from $117.00) on shares of NIKE in a research note on Friday. Sanford C. Bernstein dropped their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday. Evercore ISI lowered their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Jefferies Financial Group cut their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, NIKE has an average rating of “Hold” and an average price target of $98.96.

NIKE Stock Performance

NYSE:NKE opened at $75.37 on Friday. The stock has a 50-day simple moving average of $93.28 and a two-hundred day simple moving average of $99.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE has a 52-week low of $74.55 and a 52-week high of $123.39. The firm has a market capitalization of $113.76 billion, a PE ratio of 20.21, a P/E/G ratio of 1.79 and a beta of 1.05.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the firm posted $0.66 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts forecast that NIKE will post 3.9 EPS for the current year.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NIKE news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock valued at $19,946,333 in the last quarter. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Annapolis Financial Services LLC raised its position in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC grew its holdings in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Planned Solutions Inc. acquired a new position in shares of NIKE in the 4th quarter valued at $29,000. True Wealth Design LLC raised its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in NIKE during the 4th quarter worth about $33,000. Institutional investors own 64.25% of the company’s stock.

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.