NIKE (NYSE:NKE) Price Target Cut to $82.00 by Analysts at Truist Financial

NIKE (NYSE:NKE) had its price objective reduced by stock analysts at Truist Financial from $90.00 to $82.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the footwear maker’s stock. Truist Financial’s price objective would suggest a potential upside of 14.51% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Barclays decreased their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Guggenheim restated a “buy” rating and issued a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, Needham & Company LLC reduced their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.65.

NIKE Trading Down 1.9 %

NYSE NKE opened at $71.61 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm’s fifty day moving average price is $74.77 and its 200 day moving average price is $77.56. The company has a market capitalization of $105.92 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE has a 12 month low of $65.80 and a 12 month high of $101.92.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. On average, sell-side analysts expect that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

Institutional investors have recently bought and sold shares of the stock. Heck Capital Advisors LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $28,000. Caitlin John LLC grew its holdings in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America acquired a new position in NIKE during the third quarter valued at approximately $30,000. Roxbury Financial LLC acquired a new position in NIKE during the fourth quarter valued at approximately $30,000. Finally, LFA Lugano Financial Advisors SA lifted its position in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after buying an additional 210 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other 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.