BMO Capital Markets Lowers NIKE (NYSE:NKE) Price Target to $92.00

by · The Markets Daily

NIKE (NYSE:NKE – Get Free Report) had its price target dropped by equities researchers at BMO Capital Markets from $95.00 to $92.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the footwear maker’s stock. BMO Capital Markets’ price target points to a potential upside of 35.35% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Needham & Company LLC decreased their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley cut their price objective on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Finally, DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.54.

Check Out Our Latest Analysis on NKE

NIKE Stock Performance

Shares of NYSE NKE traded down $3.89 during mid-day trading on Friday, hitting $67.97. The stock had a trading volume of 36,488,918 shares, compared to its average volume of 12,351,128. NIKE has a twelve month low of $65.25 and a twelve month high of $101.92. The firm has a market cap of $100.54 billion, a PE ratio of 20.92, a PEG ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a 50 day moving average of $74.77 and a two-hundred day moving average of $77.56.

NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping 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 return on equity of 36.99% and a net margin of 9.98%. The company’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. Research analysts predict that NIKE will post 2.05 EPS for the current fiscal year.

Insider Buying and Selling at NIKE

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NKE. State Street Corp lifted its stake in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP increased its stake in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Geode Capital Management LLC grew its holdings in shares of NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock worth $1,915,110,000 after buying an additional 347,178 shares during the last quarter. Capital World Investors increased its position in NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock valued at $1,857,389,000 after acquiring an additional 2,288,627 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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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