NIKE (NYSE:NKE) PT reduced to $156.00

0

NIKE (NYSE: NKE – Get a rating) saw its price target lowered by UBS Group equity analysts from $168.00 to $156.00 in a research report released Friday to clients and investors, Fly reports. The UBS Group target price indicates an upside potential of 51.13% from the company’s current price.

Several other research analysts have also recently commented on the stock. Barclays lowered its price target on NIKE shares from $140.00 to $125.00 and set an “overweight” rating for the company in a Wednesday, June 29 report. StockNews.com launched coverage on NIKE shares in a research report on Thursday, March 31. They set a “hold” rating for the company. Morgan Stanley cut its price target on NIKE shares from $159.00 to $149.00 and set an “overweight” rating for the company in a Tuesday, June 28 research report. Wedbush cut its price target on NIKE shares from $139.00 to $130.00 and set an “outperform” rating for the company in a Tuesday, June 28 research report. Finally, Jefferies Financial Group set a price target of $155.00 on NIKE stock in a Tuesday, June 28 research report. Seven equity research analysts gave the stock a hold rating and twenty-one gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.00.

NYSE NKE opened at $103.22 on Friday. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt ratio of 0.58. NIKE has a 52-week low of $99.53 and a 52-week high of $179.10. The stock has a market capitalization of $162.44 billion, a PE ratio of 27.45, a growth price-earnings ratio of 2.20 and a beta of 1.00. The company has a 50-day moving average of $110.37 and a two-hundred-day moving average of $128.73.

NIKE (NYSE: NKE – Get a rating) last released its quarterly results on Monday, June 27. The shoemaker reported EPS of $0.90 for the quarter, beating the consensus estimate of $0.81 by $0.09. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The company posted revenue of $12.20 billion in the quarter, versus $12.10 billion expected by analysts. In the same quarter a year earlier, the company posted EPS of $0.93. The company’s revenue was down 0.8% year over year. On average, equity research analysts expect NIKE to post earnings per share of 3.93 for the current fiscal year.

NIKE said its board authorized a stock repurchase program on Monday, June 27 that allows the company to repurchase $18.00 billion in outstanding stock. This repurchase authorization allows the shoemaker to repurchase up to 11% of its shares through open market purchases. Stock buyback programs often indicate that the company’s management believes its stock is undervalued.

In related news, EVP Monique S. Matheson sold 30,000 shares in a trade dated Thursday, July 7. The shares were sold at an average price of $107.19, for a total value of $3,215,700.00. Following the sale, the executive vice president now directly owns 60,330 shares of the company, valued at approximately $6,466,772.70. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. Additionally, Executive Vice President Monique S. Matheson sold 19,500 shares in a trade dated Tuesday, July 5. The shares were sold at an average price of $103.45, for a total transaction of $2,017,275.00. Following the completion of the sale, the executive vice president now directly owns 80,355 shares of the company, valued at $8,312,724.75. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 72,735 shares of the company worth $7,944,215. Company insiders own 3.70% of the company’s shares.

Several institutional investors have recently increased or reduced their stake in the company. Buffington Mohr McNeal increased his stake in NIKE shares by 0.7% during the 4th quarter. Buffington Mohr McNeal now owns 9,517 shares of the shoemaker worth $1,586,000 after buying 70 more shares in the last quarter. Prestige Wealth Management Group LLC increased its stake in NIKE shares by 3.2% during the 4th quarter. Prestige Wealth Management Group LLC now owns 2,292 shares of the shoemaker worth $382,000 after buying 70 additional shares in the last quarter. Resources Management Corp CT ADV increased its stake in NIKE shares by 0.5% during the 4th quarter. Resources Management Corp CT ADV now owns 15,025 shares of the shoemaker worth $2,504,000 after acquiring 71 additional shares during the period. Cavalier Investments LLC increased its holdings of NIKE shares by 0.7% during the 4th quarter. Cavalier Investments LLC now owns 10,217 shares of the shoemaker worth $1,703,000 after acquiring 72 additional shares during the period. Finally, Capital Analysts LLC increased its stake in NIKE shares by 3.2% during the 4th quarter. Capital Analysts LLC now owns 2,353 shares of the shoemaker worth $392,000 after acquiring 72 additional shares during the period. 65.35% of the shares are currently held by institutional investors.

About NIKE (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.

Read more

The Fly logo

Analyst Recommendations for NIKE (NYSE: NKE)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in NIKE right now?

Before you consider NIKE, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and NIKE wasn’t on the list.

Although NIKE currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Share.

Comments are closed.