NIKE (NYSE:NKE) Given New $90.00 Price Target at Truist Financial

NIKE (NYSE:NKE) had its price objective reduced by analysts at Truist Financial from $97.00 to $90.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the footwear maker’s stock. Truist Financial’s target price points to a potential upside of 16.97% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Royal Bank of Canada reduced their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Evercore ISI cut their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Piper Sandler restated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a report on Friday, September 20th. UBS Group cut their price target on shares of NIKE from $82.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, Stifel Nicolaus lowered their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.77.

NIKE Price Performance

NIKE stock opened at $76.94 on Friday. The stock has a market capitalization of $115.36 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.89 and a beta of 1.02. NIKE has a 12-month low of $70.75 and a 12-month high of $123.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm’s 50-day moving average is $78.07 and its two-hundred day moving average is $80.55.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the company earned $1.03 EPS. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities analysts predict that NIKE will post 2.72 earnings per share for the current year.

Institutional Trading of NIKE

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tempus Wealth Planning LLC raised its stake in NIKE by 9.6% during the second quarter. Tempus Wealth Planning LLC now owns 3,969 shares of the footwear maker’s stock valued at $299,000 after buying an additional 347 shares in the last quarter. AMG National Trust Bank lifted its stake in NIKE by 55.6% during the second quarter. AMG National Trust Bank now owns 22,416 shares of the footwear maker’s stock worth $1,689,000 after purchasing an additional 8,012 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in NIKE by 39.8% in the second quarter. Capital Advisors Ltd. LLC now owns 3,386 shares of the footwear maker’s stock worth $255,000 after purchasing an additional 964 shares during the period. IMA Advisory Services Inc. bought a new stake in NIKE during the second quarter valued at $1,849,000. Finally, Patten Group Inc. raised its holdings in shares of NIKE by 7.2% during the second quarter. Patten Group Inc. now owns 9,330 shares of the footwear maker’s stock worth $703,000 after purchasing an additional 623 shares during the period. Institutional investors 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.