HSBC Lowers NIKE (NYSE:NKE) Price Target to $90.00

NIKE (NYSE:NKE) had its price target lowered by investment analysts at HSBC from $100.00 to $90.00 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. HSBC’s price objective would indicate a potential upside of 19.41% from the company’s current price.

A number of other equities analysts have also recently weighed in on NKE. Wells Fargo & Company cut their price target on NIKE from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, June 10th. Bank of America cut their price target on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird cut their price target on NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a report on Friday. Sanford C. Bernstein cut their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Finally, Jefferies Financial Group dropped their target price on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Two investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.96.

NIKE Stock Performance

Shares of NKE stock opened at $75.37 on Friday. The stock has a fifty day moving average price of $93.28 and a 200 day moving average price of $99.00. The stock has a market cap 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 has a 1 year low of $74.55 and a 1 year high of $123.39. 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 (NYSE:NKE) last issued its quarterly earnings data 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. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. NIKE’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. Sell-side analysts forecast that NIKE will post 3.9 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock valued at $19,946,333 over the last quarter. Company insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently bought and sold shares of NKE. Annapolis Financial Services LLC raised its stake in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC raised its stake in 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 in the last quarter. Planned Solutions Inc. acquired a new stake in NIKE during the fourth quarter valued at approximately $29,000. True Wealth Design LLC raised its stake in 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 buying an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in NIKE during the fourth quarter valued at approximately $33,000. 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.