NIKE (NYSE:NKE) Price Target Cut to $100.00 by Analysts at Robert W. Baird

NIKE (NYSE:NKE) had its price objective dropped by stock analysts at Robert W. Baird from $125.00 to $100.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the footwear maker’s stock. Robert W. Baird’s price target would suggest a potential upside of 32.68% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company decreased their target price on shares of NIKE from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, June 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 target price on shares of NIKE in a research report on Friday. Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $113.00 in a research note on Thursday, April 11th. Piper Sandler cut their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Finally, Citigroup cut their price target on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $98.96.

NIKE Stock Down 20.0 %

Shares of NKE stock opened at $75.37 on Friday. The company has a market capitalization of $113.76 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 1.79 and a beta of 1.05. NIKE has a 12-month low of $74.55 and a 12-month high of $123.39. The firm has a fifty day moving average of $93.28 and a 200-day moving average of $99.00. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, equities research analysts predict that NIKE will post 3.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On NIKE

Several hedge funds have recently bought and sold shares of the company. NBW Capital LLC increased its holdings in NIKE by 0.9% in the 1st quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock valued at $4,468,000 after buying an additional 431 shares during the period. IMS Capital Management increased its holdings in NIKE by 2.7% in the 1st quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock valued at $2,127,000 after buying an additional 589 shares during the period. American Trust increased its holdings in NIKE by 9.5% in the 1st quarter. American Trust now owns 44,107 shares of the footwear maker’s stock valued at $4,145,000 after buying an additional 3,833 shares during the period. Portland Hill Asset Management Ltd bought a new position in NIKE in the 1st quarter valued at about $958,000. Finally, Soltis Investment Advisors LLC increased its holdings in NIKE by 62.6% in the 1st quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock valued at $2,675,000 after buying an additional 10,958 shares during the period. 64.25% of the stock is owned by institutional investors.

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.