According to The Fly, analysts at Wedbush lowered their price target for Nike (NYSE: NKE-Get Rating) in a note that was provided to investors on Friday. The new price target is $120.00, which is lower than the previous price target of $130.00. Wedbush’s price target indicates that the company’s most recent closing price could rise by 11.28%. So, is Nike’s stock still cheap, even though it’s been oversold? In addition, the NKE served as a focal point for many other scientific activities. In a research note published Friday, July 15, UBS Group said it would lower its price target for Nike from $168.00 to $156.00. The new price target can be found here. In a research note published Tuesday, June 28, Wells Fargo & Company lowered its target price on Nike from $150.00 to $130.00 and gave the stock an “overweight” rating. The report also said they gave the stock an “overweight” rating. Morgan Stanley lowered both its “overweight” rating for Nike, which had previously been set at $159.00, and its price target for the company, which had previously been set at $149.00, which had previously been set at $159.00. was pegged at $159.00 in a research note posted on June 28.
According to research conducted by Credit Suisse Group and made available to the general public on June 29, NIKE was assigned a price target of $130.00 for its stock. HSBC lowered its target price on Nike from $140.00 to $132.00 and gave the company a “holding” rating in a research report released Tuesday, June 14. The final and most important adjustment has been made here. Twenty analysts gave the stock a “buy” rating, while eleven others recommended shareholders maintain the status quo with their holdings. According to information provided by MarketBeat, the company’s average price target is set at $137.12, and investors have assigned it a “Moderate Buy” rating for their investment consideration. On Friday, the opening price of a Nike share was $108.73. The debt-to-equity ratio, current ratio, and quick ratio all equal 1.84, while the other two ratios are 2.63 and 0.58. The stock price currently reflects a P/E ratio of 28.92, a beta value of 1.03, a PEG ratio of 2.29 and a PEG ratio of 2.29. The company’s moving average price over the previous two hundred days is $117.84 and the moving average price over the past fifty days is $109.53. The company’s market capitalization is currently $170.55 billion. Should you keep your Nike (NYSE:NKE) position through the second half of 2022?
On Monday, June 27, investors received information on the last quarter results produced by Nike (NYSE: NKE-Get Rating). The shoemaker reported earnings of $0.90 per share for the quarter, $0.09 better than the $0.81 per share that footwear industry analysts had predicted. Nike had a return on equity of 40.74% and the company’s net margin was 12.94%. The company’s sales for the period were $12.20 billion, which was higher than the $12.10 billion that analysts had expected. Compared to the same period a year earlier, the company generated earnings of $0.93 for each share. Nike’s revenue this year was down 0.8% from a year ago. According to projections made by market analysts, Nike will report an average of $3.79 per share in earnings for the current fiscal year. On Monday, June 27, Nike publicly stated that its board of directors had launched a stock repurchase program, allowing the organization to repurchase shares at $18.00 billion. This disclosure was made in response to a request from the Board of Directors. The shoe company has received approval to buy back up to 11% of its shares from existing shareholders in open market transactions. It is common practice for management to state that they believe the stock is undervalued by indicating that they intend to buy back some of the company’s stock.
In other developments, chief operating officer Andrew Campion sold 5,922 shares of the company on August 3. This information is included in the previous sentence. There was a total of $671,673.24 in shares sold, and they were purchased at $113.42 per share. Following the closing of the transaction, the CEO will hold a total of 75,295 shares of the company. Each of these shares has a current market value of $8,539,958.90. The transaction notification has been submitted to the Securities and Exchange Commission as a filing; the file in its entirety can be consulted by clicking on this link. The SEC has been notified of the transaction. According to reports from other sources, CFO Matthew Friend sold 9,032 shares of the company on Monday, June 13. This information was obtained from reports from other sources. The total value of the shares sold was $998,216.64 and the price received for each share averaged $110.52. The CFO is the current owner of the company’s shares and currently owns 51,581 shares, worth approximately $5,700,732.12. You can find more information regarding the transaction in the lawsuit filing submitted by the Securities and Exchange Commission, which can be viewed at this URL.
The file contains details about the transaction. Additionally, on August 3, 2018, Chief Operating Officer Andrew Campion sold 5,922 shares of the company. It was discovered that each share was sold at an average price of $113.42, which led to a total sale volume of $671,673.24. The price at which each share was sold was determined to be $113.42. Following completion of the transaction, the COO now directly owns 75,295 shares of the company, valued at $8,539,958.90. Disclosures related to the sale can be found in this section of the website. In the past ninety days, business insiders have been responsible for selling 68,593 shares, for a total value of $7,372,310. Insiders of the company hold an aggregate of 0.40% of the outstanding shares. Several institutional investors have recently changed their method of investing in NKE. During the first three months of the year, FNY Stake Advisers LLC completed the purchase of a new investment in Nike for a total cost of approximately $26,000. During the second quarter, LFA Lugano Financial Advisors SA succeeded in increasing the percentage of Nike shares held to 63.3%. Following the acquisition of 100 additional shares in the last quarter, LFA Lugano Financial Advisors SA now owns 258 shares in the shoemaker. Each share of this stock is currently worth $26,000 and the company owns 258 shares. The value of Antonetti Capital Management LLC’s holdings in Nike increased by 900.0% during the first quarter. Antonetti Capital Management LLC now directly owns 200 shares of the shoemaker, valued at $27,000.
This is due to the purchase of 180 additional shares during the last fiscal quarter, which led to this development. Alpha Paradigm Partners LLC made a new investment of approximately $31,000 in NIKE during the fourth quarter. Last but not least, in the first three months of this year, Worth Asset Management LLC initiated a new investment in Nike by contributing approximately $32,000. This was done during the first quarter of the year. At 64.19%, the shares of the company are held by institutional investors and hedge funds. Nike, Inc. and its subsidiaries are responsible for the design, development, marketing and distribution of athletic footwear, apparel, equipment and accessories for men, women and children in all regions of the world. These products are sold in all countries of the world. Under the Jumpman brand, the company sells a variety of products, including footwear, apparel (sports and casual), and accessories. Additionally, brands such as Converse, Chuck Taylor, All-Star, One Star, Star Chevron, and Jack Purcell are used in the marketing and sale of casual clothing and accessories. Would it be safe to invest $1,000 in Nike right now? Before you even think about buying a Nike product, it is essential that you are aware of this fact.
MarketBeat tracks the most reputable and successful research analysts working on Wall Street and the companies these analysts recommend to their clients daily. MarketBeat also tracks the companies that these analysts study closely. Accordingly, MarketBeat has compiled a list of the top five stocks that well-known market analysts advise their clients to buy ahead of the rest of the market. In the list, there was not a single mention of Nike.