NIKE (NYSE:NKE) Price Target Lowered to $80.00 at Bank of America

NIKE (NYSE:NKE - Get Free Report) had its price objective cut by investment analysts at Bank of America from $90.00 to $80.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the footwear maker's stock. Bank of America's target price indicates a potential upside of 38.74% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on the stock. Cfra Research upgraded shares of NIKE to a "moderate buy" rating in a report on Friday, March 21st. Wells Fargo & Company decreased their price target on NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Morgan Stanley cut their price objective on NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. Stifel Nicolaus decreased their target price on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Finally, Robert W. Baird dropped their price target on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Sixteen 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 company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $82.81.

NIKE Stock Down 1.4 %

NYSE NKE traded down $0.82 on Friday, reaching $57.66. The stock had a trading volume of 17,132,246 shares, compared to its average volume of 14,426,587. 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 1 year low of $52.28 and a 1 year high of $98.04. The business has a 50 day moving average price of $66.75 and a 200 day moving average price of $72.95. The company has a market capitalization of $85.29 billion, a price-to-earnings ratio of 17.80, 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 results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. On average, analysts forecast that NIKE will post 2.05 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Holmes Swan purchased 8,600 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares in the company, valued at $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. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On NIKE

Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after buying an additional 8,898,591 shares during the period. Geode Capital Management LLC increased its stake in NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after purchasing an additional 347,178 shares in the last quarter. Capital World Investors boosted its holdings in shares of NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after buying an additional 2,288,627 shares during the period. Bank of New York Mellon Corp increased its position in shares of NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares in the last quarter. Finally, Norges Bank bought a new stake in NIKE in the 4th quarter valued at $1,126,288,000. Institutional investors 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.