NIKE (NYSE: NKE – Get a rating) had its price target lowered by Guggenheim Research analysts from $195.00 to $160.00 in a note issued to investors on Monday, Fly reports. Guggenheim’s target price would indicate a potential upside of 39.46% from the company’s current price.
Several other brokerages have also recently published reports on NKE. Truist Financial raised its price target on NIKE from $164.00 to $176.00 in a Tuesday, March 22 report. Telsey Advisory Group lowered its price target on NIKE from $190.00 to $165.00 and set an “outperform” rating for the company in a Friday, March 18 report. Stifel Nicolaus lowered his price target on NIKE from $160.00 to $150.00 in a Monday, June 6 report. Sanford C. Bernstein began covering NIKE in a report on Monday, March 14. They issued an “outperform” rating and a price target of $160.00 for the company. Finally, Goldman Sachs Group set a target price of $177.00 on NIKE in a Tuesday, March 22 research note. One financial analyst gave the stock a sell rating, six gave the company a hold rating and twenty-three gave the company a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $169.85.
NKE Share opened at $114.73 on Monday. The company has a market capitalization of $180.56 billion, a price/earnings ratio of 30.27, a PEG ratio of 1.84 and a beta of 0.96. The company has a quick ratio of 2.18, a current ratio of 3.06 and a debt ratio of 0.64. The company has a fifty-day simple moving average of $120.92 and a 200-day simple moving average of $138.41. NIKE has a 52-week low of $103.46 and a 52-week high of $179.10.
NIKE (NYSE: NKE – Get a rating) last announced its quarterly results on Monday, March 21. The shoemaker reported earnings per share (EPS) of $0.87 for the quarter, beating the consensus estimate of $0.73 by $0.14. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The company posted revenue of $10.90 billion in the quarter, versus a consensus estimate of $10.61 billion. During the same period of the previous year, the company achieved EPS of $0.90. The company’s quarterly revenue increased by 4.8% compared to the same quarter last year. As a group, analysts expect NIKE to post earnings per share of 3.7 for the current fiscal year.
In other NIKE news, COO Andre Campion sold 14,203 shares of the company in a transaction dated Friday, June 3. The shares were sold at an average price of $120.61, for a total value of $1,713,023.83. As a result of the transaction, the chief operating officer now owns 73,795 shares of the company, valued at $8,900,414.95. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Insiders of the company hold 3.70% of the shares of the company.
Several large investors have recently changed their positions in NKE. Norges Bank acquired a new equity stake in NIKE in the fourth quarter valued at approximately $1,894,686,000. State Street Corp increased its stake in NIKE shares by 3.6% during the fourth quarter. State Street Corp now owns 56,598,375 shares of the shoemaker valued at $9,433,251,000 after acquiring an additional 1,969,270 shares during the period. Jennison Associates LLC increased its stake in NIKE stock by 14.6% during the fourth quarter. Jennison Associates LLC now owns 15,307,214 shares of the shoemaker valued at $2,551,253,000 after acquiring an additional 1,944,401 shares during the period. Wellington Management Group LLP increased its stake in NIKE shares by 9.0% during the first quarter. Wellington Management Group LLP now owns 18,040,233 shares of the shoemaker valued at $2,427,495,000 after acquiring an additional 1,486,421 shares during the period. Finally, Lazard Asset Management LLC increased its stake in NIKE shares by 221.5% during the first quarter. Lazard Asset Management LLC now owns 2,046,445 shares of the shoemaker valued at $275,368,000 after acquiring an additional 1,409,913 shares during the period. Institutional investors hold 65.35% of the company’s shares.
NIKE Company Profile (Get a rating)
NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment and accessories worldwide. The company offers NIKE-branded products in six categories, including running, NIKE basketball, Jordan brand, football, training and sportswear. It also markets products designed for children, as well as other sports and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball- ball, walking, wrestling and other outdoor activities; and apparel with licensed college and pro team and league logos, as well as athletic apparel.
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