Nike (NYSE:NKE) was upgraded by stock analysts at Bank of America to an “underperform” rating in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage presently has a $70.00 price objective on the footwear maker’s stock, up from their prior price objective of $60.00. Bank of America‘s price target points to a potential downside of 15.27% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Morgan Stanley set a $103.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Friday, March 22nd. Cowen set a $90.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Friday, March 22nd. Wells Fargo & Co increased their target price on shares of Nike from $76.00 to $80.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Telsey Advisory Group increased their target price on shares of Nike from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Finally, Goldman Sachs Group set a $85.00 target price on shares of Nike and gave the company a “neutral” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $87.81.

NKE opened at $82.62 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.17. The business’s fifty day simple moving average is $82.81. Nike has a 1-year low of $66.53 and a 1-year high of $90.00. The firm has a market capitalization of $134.78 billion, a P/E ratio of 34.14, a price-to-earnings-growth ratio of 2.20 and a beta of 0.76.

In related news, insider Eric D. Sprunk sold 40,004 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total transaction of $3,513,151.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John F. Slusher sold 110,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $85.02, for a total transaction of $9,352,200.00. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of NKE. Tiemann Investment Advisors LLC boosted its position in Nike by 2.4% during the fourth quarter. Tiemann Investment Advisors LLC now owns 5,420 shares of the footwear maker’s stock worth $402,000 after purchasing an additional 125 shares during the period. Capital Insight Partners LLC boosted its position in Nike by 0.7% during the first quarter. Capital Insight Partners LLC now owns 17,819 shares of the footwear maker’s stock worth $1,501,000 after purchasing an additional 126 shares during the period. Midwest Professional Planners LTD. boosted its position in Nike by 1.0% during the first quarter. Midwest Professional Planners LTD. now owns 12,794 shares of the footwear maker’s stock worth $1,077,000 after purchasing an additional 127 shares during the period. Arcadia Investment Management Corp MI lifted its holdings in shares of Nike by 45.4% in the first quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock worth $35,000 after buying an additional 128 shares in the last quarter. Finally, National Asset Management Inc. lifted its holdings in shares of Nike by 0.9% in the first quarter. National Asset Management Inc. now owns 14,637 shares of the footwear maker’s stock worth $1,234,000 after buying an additional 131 shares in the last quarter. Institutional investors own 65.60% of the company’s stock.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Analyst Recommendations for Nike (NYSE:NKE)

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