NIKE (NYSE:NKE) PT Lowered to $104.00 at Bank of America

NIKE (NYSE:NKE) had its target price decreased by Bank of America from $113.00 to $104.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the footwear maker’s stock. Bank of America‘s target price points to a potential upside of 36.50% from the company’s previous close.

Several other brokerages have also weighed in on NKE. Evercore ISI cut their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Friday. Stifel Nicolaus restated a “hold” rating and set a $88.00 price objective (down previously from $117.00) on shares of NIKE in a research report on Friday. Truist Financial dropped their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a report on Friday. UBS Group restated a “neutral” rating and set a $78.00 target price on shares of NIKE in a report on Friday. Finally, Wedbush dropped their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of “Hold” and a consensus price target of $102.89.

NIKE Stock Performance

Shares of NYSE:NKE traded down $18.00 on Friday, hitting $76.19. The company’s stock had a trading volume of 45,896,106 shares, compared to its average volume of 9,568,646. The company has a market capitalization of $115.00 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE has a 12 month low of $75.90 and a 12 month high of $123.39. The stock’s 50-day moving average is $93.70 and its two-hundred day moving average is $99.48.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. NIKE’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts forecast that NIKE will post 3.81 EPS for the current year.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,660 shares of company stock valued at $19,946,333. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several institutional investors have recently bought and sold shares of the business. Annapolis Financial Services LLC boosted its position in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC lifted its position in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. bought a new position in shares of NIKE in the 4th quarter valued at about $29,000. True Wealth Design LLC lifted its holdings in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC bought a new stake in NIKE in the fourth quarter valued at about $33,000. 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.