Nike (NYSE:NKE) had its price target lowered by equities research analysts at BMO Capital Markets from $110.00 to $87.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the footwear maker’s stock. BMO Capital Markets’ price objective suggests a potential upside of 20.28% from the company’s current price.

A number of other research firms have also issued reports on NKE. Consumer Edge started coverage on shares of Nike in a research note on Friday, December 27th. They set an “overweight” rating and a $110.00 price objective on the stock. Pivotal Research dropped their price objective on shares of Nike from $117.00 to $78.00 and set a “buy” rating on the stock in a research note on Monday. Robert W. Baird lifted their price target on shares of Nike from $92.00 to $103.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Piper Jaffray Companies restated an “overweight” rating and issued a $110.00 price target (up previously from $101.00) on shares of Nike in a research note on Friday, December 20th. Finally, Argus lifted their price target on shares of Nike from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 24th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Nike presently has an average rating of “Buy” and an average price target of $100.70.

NKE opened at $72.33 on Wednesday. The firm has a market capitalization of $97.80 billion, a P/E ratio of 25.29, a P/E/G ratio of 1.91 and a beta of 0.84. The firm’s 50 day moving average is $89.97 and its 200-day moving average is $93.75. Nike has a 52-week low of $60.00 and a 52-week high of $105.62. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.66.

Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. The company had revenue of $10.10 billion for the quarter, compared to analyst estimates of $9.56 billion. Nike had a net margin of 11.21% and a return on equity of 50.03%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. Equities analysts expect that Nike will post 2.6 earnings per share for the current fiscal year.

In other Nike news, EVP Monique S. Matheson sold 8,500 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $105.00, for a total transaction of $892,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Hilary K. Krane sold 28,000 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $101.00, for a total transaction of $2,828,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,916 shares of company stock valued at $27,686,864. 3.80% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Nike during the fourth quarter valued at $1,314,457,000. Alliancebernstein L.P. boosted its holdings in shares of Nike by 36.5% during the fourth quarter. Alliancebernstein L.P. now owns 15,559,748 shares of the footwear maker’s stock valued at $1,576,358,000 after acquiring an additional 4,159,675 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Nike by 81.7% during the fourth quarter. 1832 Asset Management L.P. now owns 4,485,657 shares of the footwear maker’s stock valued at $454,422,000 after acquiring an additional 2,016,633 shares during the period. FMR LLC boosted its holdings in shares of Nike by 4.5% during the fourth quarter. FMR LLC now owns 30,077,288 shares of the footwear maker’s stock valued at $3,047,131,000 after acquiring an additional 1,302,351 shares during the period. Finally, Man Group plc boosted its holdings in shares of Nike by 110.1% during the third quarter. Man Group plc now owns 2,107,158 shares of the footwear maker’s stock valued at $197,887,000 after acquiring an additional 1,104,295 shares during the period. Hedge funds and other institutional investors own 65.40% 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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