Barclays Raises NIKE (NYSE:NKE) Price Target to $84.00

NIKE (NYSE:NKE) had its target price hoisted by research analysts at Barclays from $80.00 to $84.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the footwear maker’s stock. Barclays‘s price objective would suggest a potential upside of 3.74% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their target price for the company from $67.00 to $93.00 in a report on Friday, August 16th. The Goldman Sachs Group reduced their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $79.00 target price (down previously from $114.00) on shares of NIKE in a report on Friday, June 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 target price on shares of NIKE in a report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.33.

NIKE Stock Up 0.1 %

Shares of NKE opened at $80.97 on Wednesday. The stock has a market capitalization of $122.21 billion, a PE ratio of 21.71, a P/E/G ratio of 2.08 and a beta of 1.02. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company’s 50-day simple moving average is $77.84 and its 200-day simple moving average is $87.23.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. Analysts forecast that NIKE will post 3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cim LLC acquired a new position in NIKE in the 4th quarter valued at about $14,275,000. TKG Advisors LLC purchased a new stake in NIKE in the 4th quarter valued at about $1,012,000. Spartan Planning & Wealth Management purchased a new stake in NIKE in the 4th quarter valued at about $182,000. Edmond DE Rothschild Holding S.A. grew its holdings in NIKE by 27.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock valued at $12,301,000 after buying an additional 24,686 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares during the period. Institutional investors and hedge funds 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.