NIKE (NYSE:NKE) Price Target Raised to $84.00

by · The Markets Daily

NIKE (NYSE:NKE – Free Report) had its price target upped by Bank of America from $80.00 to $84.00 in a research report report published on Friday,Benzinga reports. Bank of America currently has a buy rating on the footwear maker’s stock.

A number of other equities research analysts have also recently weighed in on NKE. Evercore ISI cut their price objective on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 24th. Cfra Research upgraded shares of NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Piper Sandler cut their price objective on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Barclays cut their price objective on shares of NIKE from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 18th. Finally, BMO Capital Markets cut their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Check Out Our Latest Stock Report on NIKE

NIKE Stock Performance

NKE stock opened at $72.09 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a market capitalization of $106.63 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 2.73 and a beta of 1.21. NIKE has a 1 year low of $52.28 and a 1 year high of $90.62. The stock’s fifty day moving average is $60.63 and its two-hundred day moving average is $67.44.

NIKE (NYSE:NKE – Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same period last year, the business posted $0.99 earnings per share. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, research analysts predict that NIKE will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. NIKE’s dividend payout ratio is currently 53.16%.

Insider Buying and Selling

In related news, Director Robert Holmes Swan purchased 8,600 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NIKE

A number of institutional investors have recently bought and sold shares of NKE. Stone House Investment Management LLC purchased a new position in NIKE in the 1st quarter worth about $25,000. Heck Capital Advisors LLC purchased a new position in NIKE during the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA grew its stake in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in NIKE during the 4th quarter valued at about $30,000. Finally, Saudi Central Bank purchased a new position in NIKE during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

(Get Free Report)

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.

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