NIKE (NYSE:NKE) PT Lowered to $83.00 at Truist Financial

NIKE (NYSE:NKE) had its price target reduced by equities research analysts at Truist Financial from $85.00 to $83.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the footwear maker’s stock. Truist Financial’s price target suggests a potential downside of 6.88% from the company’s previous close.

Several other equities research analysts also recently commented on NKE. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Robert W. Baird boosted their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. UBS Group restated a “neutral” rating and set a $78.00 price target on shares of NIKE in a report on Friday, June 28th. Jefferies Financial Group boosted their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday. Finally, Wells Fargo & Company boosted their price target on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.33.

NIKE Trading Up 0.8 %

NYSE:NKE opened at $89.13 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm has a 50-day moving average of $80.26 and a 200-day moving average of $86.41. The company has a market cap of $134.53 billion, a PE ratio of 23.90, a PEG ratio of 2.30 and a beta of 1.02. NIKE has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. As a group, equities research analysts expect that NIKE will post 3.04 EPS for the current fiscal year.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several institutional investors have recently added to or reduced their stakes in the company. Kampmann Melissa S. boosted its position in NIKE by 0.8% during the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after buying an additional 115 shares during the period. Ascent Wealth Partners LLC lifted its position in shares of NIKE by 0.4% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after purchasing an additional 115 shares during the period. Condor Capital Management lifted its position in shares of NIKE by 0.4% in the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after purchasing an additional 116 shares during the period. Bell Investment Advisors Inc lifted its position in shares of NIKE by 4.7% in the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock worth $283,000 after purchasing an additional 118 shares during the period. Finally, Lodestone Wealth Management LLC lifted its position in shares of NIKE by 5.5% in the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock worth $211,000 after purchasing an additional 118 shares during the period. Hedge funds and other 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.