Jefferies Financial Group Lowers NIKE (NYSE:NKE) Price Target to $80.00

NIKE (NYSE:NKE) had its price objective reduced by investment analysts at Jefferies Financial Group from $90.00 to $80.00 in a research report issued on Friday, BayStreet.CA reports. Jefferies Financial Group’s price target points to a potential upside of 8.96% from the company’s current price.

Several other equities analysts also recently issued reports on the company. HSBC reduced their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Morgan Stanley reiterated an “equal weight” rating and set a $79.00 price objective (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. Royal Bank of Canada reduced their price objective on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. Citigroup reduced their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Telsey Advisory Group reduced their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Hold” and an average price target of $96.44.

NIKE Stock Up 0.0 %

NYSE:NKE opened at $73.42 on Friday. The firm has a market capitalization of $110.82 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01. The stock has a 50 day moving average of $89.52 and a 200-day moving average of $95.99. NIKE has a 52 week low of $71.67 and a 52 week high of $123.39. 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 earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS 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 return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. Analysts predict that NIKE will post 3.17 EPS for the current year.

Insider Buying and Selling at NIKE

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

Hedge Funds Weigh In On NIKE

Several hedge funds have recently bought and sold shares of NKE. Raleigh Capital Management Inc. increased its position in NIKE by 134.2% during the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after buying an additional 216 shares during the last quarter. Anchor Investment Management LLC acquired a new position in NIKE during the fourth quarter worth $219,000. Symmetry Partners LLC boosted its holdings in NIKE by 66.3% during the fourth quarter. Symmetry Partners LLC now owns 5,163 shares of the footwear maker’s stock valued at $562,000 after acquiring an additional 2,059 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in NIKE by 38.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 8,968 shares of the footwear maker’s stock valued at $974,000 after acquiring an additional 2,508 shares during the period. Finally, DNB Asset Management AS boosted its holdings in NIKE by 9.5% during the fourth quarter. DNB Asset Management AS now owns 338,623 shares of the footwear maker’s stock valued at $36,764,000 after acquiring an additional 29,474 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.