Robert W. Baird Lowers NIKE (NYSE:NKE) Price Target to $99.00

NIKE (NYSE:NKE) had its target price reduced by equities research analysts at Robert W. Baird from $105.00 to $99.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the footwear maker’s stock. Robert W. Baird’s target price would suggest a potential upside of 45.56% from the company’s current price.

Several other research firms have also recently weighed in on NKE. Guggenheim restated a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Truist Financial reduced their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Barclays reduced their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Bank of America reduced their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Morgan Stanley reduced their target price on NIKE from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.38.

NIKE Stock Down 5.4 %

Shares of NYSE NKE opened at $68.02 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market cap of $100.60 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.52 and a beta of 1.02. NIKE has a 12 month low of $65.17 and a 12 month high of $98.04. The stock has a 50-day moving average price of $74.70 and a two-hundred day moving average price of $77.43.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for 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 business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 earnings per share. As a group, analysts forecast that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter valued at about $28,000. Caitlin John LLC raised its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the 3rd quarter valued at about $30,000. Roxbury Financial LLC purchased a new stake in shares of NIKE in the 4th quarter valued at about $30,000. Finally, LFA Lugano Financial Advisors SA raised its holdings in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. 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.