NIKE (NYSE:NKE) Price Target Lowered to $130.00 at Credit Suisse Group

NIKE (NYSE:NKEGet Rating) had its price target reduced by investment analysts at Credit Suisse Group from $165.00 to $130.00 in a note issued to investors on Thursday, The Fly reports. Credit Suisse Group’s price target would indicate a potential upside of 23.90% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on NKE. Wells Fargo & Company decreased their target price on NIKE from $165.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 1st. Guggenheim reduced their price objective on NIKE from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, June 13th. BMO Capital Markets reduced their price objective on NIKE from $170.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, March 22nd. StockNews.com started coverage on NIKE in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, KGI Securities cut NIKE from an “outperform” rating to a “neutral” rating in a research report on Monday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.27.

Shares of NYSE NKE opened at $104.92 on Thursday. The stock has a market cap of $165.12 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.74 and a beta of 0.96. The business has a 50 day simple moving average of $117.72 and a 200 day simple moving average of $135.48. NIKE has a 52 week low of $103.46 and a 52 week high of $179.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.18 and a current ratio of 3.06.

NIKE (NYSE:NKEGet Rating) last announced its earnings results on Monday, March 21st. The footwear maker reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. The firm had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.61 billion. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, analysts predict that NIKE will post 3.68 EPS for the current year.

In related news, COO Andrew Campion sold 14,203 shares of the stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $120.61, for a total transaction of $1,713,023.83. Following the completion of the sale, the chief operating officer now directly owns 73,795 shares of the company’s stock, valued at $8,900,414.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew Friend sold 9,032 shares of the stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $110.52, for a total value of $998,216.64. Following the sale, the chief financial officer now directly owns 51,581 shares of the company’s stock, valued at $5,700,732.12. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of NKE. Norges Bank bought a new position in shares of NIKE in the fourth quarter worth $1,894,686,000. State Street Corp boosted its holdings in shares of NIKE by 3.6% in the fourth quarter. State Street Corp now owns 56,598,375 shares of the footwear maker’s stock worth $9,433,251,000 after acquiring an additional 1,969,270 shares during the period. Jennison Associates LLC boosted its stake in NIKE by 14.6% during the fourth quarter. Jennison Associates LLC now owns 15,307,214 shares of the footwear maker’s stock valued at $2,551,253,000 after buying an additional 1,944,401 shares during the period. Wellington Management Group LLP boosted its stake in NIKE by 9.0% during the first quarter. Wellington Management Group LLP now owns 18,040,233 shares of the footwear maker’s stock valued at $2,427,495,000 after buying an additional 1,486,421 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in NIKE by 221.5% during the first quarter. Lazard Asset Management LLC now owns 2,046,445 shares of the footwear maker’s stock valued at $275,368,000 after buying an additional 1,409,913 shares during the period. 65.35% of the stock is owned by hedge funds and other institutional investors.

NIKE Company Profile (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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