NIKE (NYSE:NKE) Price Target Cut to $110.00

NIKE (NYSE:NKE) had its price target decreased by investment analysts at Guggenheim from $115.00 to $110.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the footwear maker’s stock. Guggenheim’s target price points to a potential upside of 33.97% from the company’s current price.

NKE has been the topic of a number of other research reports. Citigroup decreased their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. BMO Capital Markets decreased their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. UBS Group upped 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. Finally, Royal Bank of Canada reduced their price target on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a 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 $96.04.

NIKE Trading Down 1.2 %

Shares of NKE stock opened at $82.11 on Wednesday. The company’s 50-day moving average price is $80.71 and its 200-day moving average price is $86.36. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a market cap of $123.93 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.30 and a beta of 1.02. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The company’s revenue was down 10.4% compared to the same quarter last year. As a group, equities analysts predict that NIKE will post 3.04 earnings per share for the current year.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NIKE

Hedge funds have recently modified their holdings of the business. Annapolis Financial Services LLC grew its position in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC grew its position in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of NIKE during the fourth quarter worth approximately $33,000. Core Wealth Advisors Inc. grew its position in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares during the last quarter. Finally, Pineridge Advisors LLC purchased a new position in shares of NIKE during the fourth quarter worth approximately $38,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.