NIKE (NYSE:NKE) Price Target Raised to $82.00 at UBS Group

NIKE (NYSE:NKE) had its target price increased by equities researchers at UBS Group from $78.00 to $82.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the footwear maker’s stock. UBS Group’s target price would suggest a potential downside of 0.13% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Wells Fargo & Company boosted their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Wedbush decreased their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. KeyCorp restated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $92.00 price target on shares of NIKE in a research report on Friday, September 20th. Finally, Barclays lifted their price objective on shares of NIKE from $80.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 18th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.04.

NIKE Price Performance

NKE stock opened at $82.11 on Wednesday. The business has a 50 day moving average price of $80.71 and a 200 day moving average price of $86.36. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The stock has a market cap of $123.93 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.30 and a beta of 1.02. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

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

Insider Activity at NIKE

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

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Vanguard Group Inc. boosted its stake in shares of NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares during the period. Legal & General Group Plc boosted its position in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after acquiring an additional 571,544 shares during the last quarter. Fisher Asset Management LLC grew its stake in NIKE by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after acquiring an additional 211,360 shares during the period. Finally, Jennison Associates LLC raised its holdings in NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares during the last quarter. 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.