UBS Group Issues Pessimistic Forecast for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its target price lowered by investment analysts at UBS Group from $73.00 to $66.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the footwear maker’s stock. UBS Group’s price objective would suggest a potential downside of 3.34% from the company’s previous close.

Several other analysts have also issued reports on the company. China Renaissance initiated coverage on NIKE in a report on Wednesday. They set a “hold” rating on the stock. JPMorgan Chase & Co. dropped their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Bank of America decreased their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Needham & Company LLC decreased their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Monday. Finally, Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $115.00 in a research note on Monday, February 24th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.27.

NIKE Stock Down 5.0 %

NKE traded down $3.58 during trading on Friday, hitting $68.28. The company had a trading volume of 39,511,877 shares, compared to its average volume of 12,361,000. The firm’s 50-day moving average price is $74.77 and its 200 day moving average price is $77.56. The company has a market capitalization of $100.99 billion, a PE ratio of 21.07, a PEG ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE has a one year low of $65.25 and a one year high of $101.92.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the company earned $0.98 earnings per share. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, equities analysts expect that NIKE will post 2.05 earnings per share for the current year.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the 4th quarter valued at approximately $28,000. Caitlin John LLC grew its holdings in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in NIKE during the 3rd quarter worth approximately $30,000. Roxbury Financial LLC acquired a new position in shares of NIKE in the fourth quarter worth approximately $30,000. Finally, LFA Lugano Financial Advisors SA boosted its holdings in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.