Brokerages Set NIKE, Inc. (NYSE:NKE) Target Price at $96.56

Shares of NIKE, Inc. (NYSE:NKE) have earned a consensus rating of “Moderate Buy” from the twenty-nine ratings firms that are covering the firm, MarketBeat reports. Thirteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $96.56.

A number of research firms have recently weighed in on NKE. Guggenheim dropped their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Robert W. Baird increased their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Stifel Nicolaus decreased their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Morgan Stanley increased their price target on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, UBS Group increased their price target on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Several large investors have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC lifted 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 worth $25,000 after purchasing an additional 220 shares during the last quarter. Transcendent Capital Group LLC lifted its stake in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC lifted its stake in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in NIKE during the second quarter worth about $44,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 2.5 %

NKE stock opened at $76.43 on Friday. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average is $82.37 and its 200-day moving average is $84.67. The firm has a market capitalization of $114.60 billion, a PE ratio of 21.90, a P/E/G ratio of 1.90 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Sell-side analysts expect that NIKE will post 2.76 EPS for the current fiscal year.

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.