NIKE (NYSE:NKE) PT Lowered to $114.00

NIKE (NYSE:NKE) had its price objective lowered by stock analysts at Morgan Stanley from $116.00 to $114.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the footwear maker’s stock. Morgan Stanley’s target price would indicate a potential upside of 20.28% from the stock’s previous close.

Several other research firms have also recently commented on NKE. Robert W. Baird cut their price target on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Sanford C. Bernstein cut their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $115.00 price target on shares of NIKE in a report on Thursday, June 13th. Williams Trading reaffirmed a “sell” rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a report on Monday, March 18th. Finally, The Goldman Sachs Group cut their price target on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.52.

NIKE Price Performance

Shares of NIKE stock opened at $94.78 on Monday. The business has a 50 day simple moving average of $93.31 and a two-hundred day simple moving average of $100.21. NIKE has a 12 month low of $88.66 and a 12 month high of $123.39. The stock has a market capitalization of $143.06 billion, a P/E ratio of 27.88, a PEG ratio of 1.74 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. As a group, analysts predict that NIKE will post 3.76 EPS for the current fiscal year.

Insider Buying and Selling at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Institutional investors have recently modified their holdings of the company. Tiemann Investment Advisors LLC raised its position in shares of NIKE by 3.1% during the 3rd quarter. Tiemann Investment Advisors LLC now owns 3,340 shares of the footwear maker’s stock worth $319,000 after purchasing an additional 100 shares during the last quarter. Piscataqua Savings Bank raised its position in shares of NIKE by 2.1% during the 4th quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock worth $528,000 after purchasing an additional 100 shares during the last quarter. Physicians Financial Services Inc. raised its position in shares of NIKE by 0.6% during the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after purchasing an additional 100 shares during the last quarter. ZWJ Investment Counsel Inc. raised its position in shares of NIKE by 4.0% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after purchasing an additional 100 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of NIKE by 0.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other 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.