NIKE (NYSE:NKE) Given New $80.00 Price Target at Royal Bank of Canada

NIKE (NYSE:NKE - Free Report) had its price objective trimmed by Royal Bank of Canada from $82.00 to $80.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a sector perform rating on the footwear maker's stock.

Several other research firms have also recently weighed in on NKE. Guggenheim lowered their price target on NIKE from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, October 2nd. Stifel Nicolaus lowered their target price on NIKE from $88.00 to $79.00 and set a "hold" rating on the stock in a report on Monday, August 26th. Jefferies Financial Group boosted their price target on NIKE from $80.00 to $85.00 and gave the company a "hold" rating in a research note on Monday, September 30th. Wells Fargo & Company upped their price target on shares of NIKE from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, September 20th. Finally, UBS Group boosted their target price on shares of NIKE from $78.00 to $82.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, NIKE has an average rating of "Moderate Buy" and a consensus price target of $96.48.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.60 during midday trading on Thursday, reaching $75.92. 11,768,934 shares of the company's stock traded hands, compared to its average volume of 11,556,075. NIKE has a one year low of $70.75 and a one year high of $123.39. The stock has a 50 day moving average of $81.68 and a 200 day moving average of $84.07. The company has a market cap of $113.83 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 1.88 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the firm posted $0.94 EPS. The business's quarterly revenue was down 10.4% compared to the same quarter last year. As a group, equities research analysts anticipate that NIKE will post 2.74 EPS for the current fiscal year.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Transcendent Capital Group LLC raised its stake in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker's stock valued at $38,000 after acquiring an additional 200 shares during the period. VitalStone Financial LLC raised its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock worth $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its position in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker's stock worth $39,000 after purchasing an additional 376 shares during the period. Triad Wealth Partners LLC bought a new stake in NIKE in the second quarter worth about $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of NIKE during the second quarter valued at approximately $46,000. 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.