NIKE (NYSE:NKE) PT Set at $70.00 by Barclays

NIKE (NYSE:NKE) received a $70.00 price objective from equities research analysts at Barclays in a research report issued on Wednesday,MarketScreener Latest Ratings reports. The firm presently has a “neutral” rating on the footwear maker’s stock. Barclays‘s target price suggests a potential upside of 3.32% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Guggenheim initiated coverage on shares of NIKE in a research note on Tuesday. They set a “buy” rating and a $77.00 target price for the company. Wells Fargo & Company raised NIKE from a “sector perform” rating to an “overweight” rating in a report on Tuesday, December 2nd. Citigroup dropped their price objective on NIKE from $74.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and raised their target price for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Finally, UBS Group reaffirmed a “market perform” rating and issued a $75.00 price target on shares of NIKE in a report on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.10.

NIKE Stock Performance

Shares of NIKE stock opened at $67.75 on Wednesday. The business has a 50-day simple moving average of $65.49 and a 200-day simple moving average of $69.22. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE has a one year low of $52.28 and a one year high of $82.44. The company has a market cap of $100.15 billion, a PE ratio of 34.74, a P/E/G ratio of 2.31 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that NIKE will post 2.05 EPS for the current fiscal year.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the completion of the sale, the chairman owned 647,615 shares in the company, valued at approximately $41,965,452. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several hedge funds have recently modified their holdings of NKE. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in shares of NIKE by 1.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after acquiring an additional 134 shares during the period. Main Street Financial Solutions LLC raised its holdings in NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after purchasing an additional 139 shares in the last quarter. St. Clair Advisors LLC lifted its position in NIKE by 0.9% in the third quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock valued at $1,061,000 after purchasing an additional 140 shares during the period. Caldwell Sutter Capital Inc. boosted its holdings in NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after purchasing an additional 142 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its position in NIKE by 10.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after purchasing an additional 145 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

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.