Stifel Nicolaus Lowers NIKE (NYSE:NKE) Price Target to $64.00

NIKE (NYSE:NKE - Get Free Report) had its price objective decreased by investment analysts at Stifel Nicolaus from $75.00 to $64.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the footwear maker's stock. Stifel Nicolaus' price objective suggests a potential upside of 15.80% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company decreased their price objective on NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Barclays decreased their price target on NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a research note on Friday, December 20th. Robert W. Baird dropped their price objective on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Cfra Research raised shares of NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Finally, UBS Group dropped their price target on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, NIKE has an average rating of "Moderate Buy" and an average price target of $86.19.

Remove Ads

NIKE Stock Up 1.6 %

NYSE NKE traded up $0.88 during trading on Thursday, hitting $55.27. The stock had a trading volume of 11,953,932 shares, compared to its average volume of 14,029,292. NIKE has a 12 month low of $52.28 and a 12 month high of $98.04. 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's 50-day moving average price is $70.03 and its two-hundred day moving average price is $74.83. The company has a market capitalization of $81.75 billion, a PE ratio of 17.06, a P/E/G ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, sell-side analysts forecast that NIKE will post 2.05 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company's stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan bought 8,600 shares of the firm's stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of NIKE

Large investors have recently made changes to their positions in the company. PFW Advisors LLC acquired a new position in NIKE during the first quarter valued at approximately $828,000. Bennett Selby Investments LP raised its holdings in shares of NIKE by 38.5% during the 1st quarter. Bennett Selby Investments LP now owns 50,412 shares of the footwear maker's stock worth $3,200,000 after buying an additional 14,021 shares in the last quarter. Bangor Savings Bank lifted its position in shares of NIKE by 591.8% during the 1st quarter. Bangor Savings Bank now owns 11,138 shares of the footwear maker's stock worth $707,000 after buying an additional 9,528 shares during the last quarter. Park Avenue Securities LLC boosted its stake in NIKE by 12.1% in the first quarter. Park Avenue Securities LLC now owns 16,705 shares of the footwear maker's stock valued at $1,060,000 after buying an additional 1,806 shares in the last quarter. Finally, ARS Wealth Advisors Group LLC grew its position in NIKE by 10.2% in the first quarter. ARS Wealth Advisors Group LLC now owns 4,871 shares of the footwear maker's stock valued at $309,000 after acquiring an additional 450 shares during the last quarter. Institutional investors and hedge funds 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.