Morgan Stanley Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE - Get Free Report) had its price objective lowered by Morgan Stanley from $74.00 to $72.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the footwear maker's stock. Morgan Stanley's price objective suggests a potential downside of 0.73% from the stock's previous close.

Several other equities analysts have also issued reports on the company. UBS Group reaffirmed a "neutral" rating and set a $73.00 price objective on shares of NIKE in a report on Thursday, December 26th. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. BMO Capital Markets raised their target price on shares of NIKE from $92.00 to $95.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Truist Financial reduced their price target on shares of NIKE from $97.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Finally, DA Davidson upgraded shares of NIKE to a "strong-buy" rating in a research note on Monday, December 23rd. Fourteen 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.69.

NIKE Stock Down 1.4 %

NYSE:NKE traded down $1.05 during mid-day trading on Thursday, hitting $72.53. The stock had a trading volume of 3,915,527 shares, compared to its average volume of 12,992,756. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE has a twelve month low of $68.62 and a twelve month high of $102.49. The company has a market capitalization of $107.28 billion, a PE ratio of 22.39, a PEG ratio of 2.52 and a beta of 1.02. The stock has a 50-day simple moving average of $74.73 and a two-hundred day simple moving average of $77.99.

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NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analysts' expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm's revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, equities research analysts anticipate that NIKE will post 2.05 EPS for the current year.

Insider Transactions at NIKE

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

Institutional Trading of NIKE

A number of institutional investors have recently modified their holdings of the company. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the third quarter worth about $30,000. Caitlin John LLC increased 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 buying an additional 200 shares during the last quarter. Heck Capital Advisors LLC bought a new position in NIKE during the 4th quarter worth approximately $28,000. Roxbury Financial LLC acquired a new position in shares of NIKE in the 4th quarter worth approximately $30,000. Finally, LFA Lugano Financial Advisors SA boosted its holdings in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Company Profile

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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