NIKE (NYSE:NKE) PT Lowered to $115.00 at Guggenheim

NIKE (NYSE:NKE) had its target price reduced by stock analysts at Guggenheim from $130.00 to $115.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the footwear maker’s stock. Guggenheim’s price target suggests a potential upside of 52.40% from the stock’s previous close.

Several other brokerages also recently weighed in on NKE. Barclays downgraded NIKE from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $109.00 to $80.00 in a research report on Friday. Williams Trading reaffirmed a “sell” rating and set a $85.00 target price (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. Piper Sandler dropped their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Friday. Finally, StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Hold” and a consensus price target of $100.67.

NIKE Stock Performance

Shares of NYSE NKE traded down $18.73 during trading hours on Friday, reaching $75.46. The stock had a trading volume of 85,959,413 shares, compared to its average volume of 9,890,534. The company has a market cap of $113.90 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.79 and a beta of 1.05. The business’s fifty day moving average is $93.70 and its two-hundred day moving average is $99.48. NIKE has a twelve month low of $74.76 and a twelve month high of $123.39. 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 posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 EPS. As a group, research analysts expect that NIKE will post 3.81 EPS for the current year.

Insider Transactions at NIKE

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

Institutional Investors Weigh In On NIKE

Several large investors have recently made changes to their positions in NKE. Annapolis Financial Services LLC boosted its holdings in 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 buying an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC grew its position in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new stake in NIKE during the fourth quarter worth about $29,000. True Wealth Design LLC lifted 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 purchasing an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in NIKE in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds 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.