NIKE (NYSE:NKE) Price Target Cut to $140.00 by Analysts at Barclays

NIKE (NYSE:NKEGet Rating) had its price objective decreased by analysts at Barclays from $161.00 to $140.00 in a research report issued on Tuesday, The Fly reports. The firm currently has an “overweight” rating on the footwear maker’s stock. Barclays‘s target price would indicate a potential upside of 28.39% from the stock’s current price.

Other research analysts have also issued reports about the company. BMO Capital Markets lowered 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. JPMorgan Chase & Co. set a $164.00 price objective on NIKE in a research report on Tuesday, May 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $159.00 price objective on shares of NIKE in a research report on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft increased their price objective on NIKE from $173.00 to $175.00 in a research report on Tuesday, March 22nd. Finally, The Goldman Sachs Group set a $177.00 price objective on NIKE in a research report on Tuesday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $162.73.

Shares of NKE stock traded up $1.70 during trading hours on Tuesday, reaching $109.04. The company had a trading volume of 223,429 shares, compared to its average volume of 5,978,587. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.18 and a current ratio of 3.06. The stock has a fifty day moving average of $118.50 and a 200-day moving average of $135.89. The company has a market capitalization of $171.60 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 1.72 and a beta of 0.96. NIKE has a 12-month low of $103.46 and a 12-month high of $179.10.

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

In other NIKE news, CFO Matthew Friend sold 9,032 shares of the firm’s stock in a transaction on Monday, June 13th. The stock was 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 in the company, valued at $5,700,732.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Andrew Campion sold 14,203 shares of the firm’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $120.61, for a total value of $1,713,023.83. Following the completion of the sale, the chief operating officer now owns 73,795 shares in the company, valued at $8,900,414.95. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the business. OLD Mission Capital LLC purchased a new position in shares of NIKE during the third quarter worth about $338,000. Morgan Stanley grew its holdings in shares of NIKE by 3.2% during the second quarter. Morgan Stanley now owns 17,340,384 shares of the footwear maker’s stock worth $2,678,912,000 after buying an additional 543,451 shares during the last quarter. EagleClaw Capital Managment LLC grew its holdings in shares of NIKE by 1.4% during the third quarter. EagleClaw Capital Managment LLC now owns 116,326 shares of the footwear maker’s stock worth $16,891,000 after buying an additional 1,604 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of NIKE during the third quarter worth about $95,000. Finally, Two Sigma Advisers LP grew its holdings in shares of NIKE by 722.8% during the third quarter. Two Sigma Advisers LP now owns 54,299 shares of the footwear maker’s stock worth $7,886,000 after buying an additional 47,700 shares during the last quarter. 65.35% of the stock is currently owned by 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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