Stifel Nicolaus Lowers NIKE (NYSE:NKE) Price Target to $50.00

NIKE (NYSE:NKEGet Free Report) had its price target lowered by equities researchers at Stifel Nicolaus from $56.00 to $50.00 in a report issued on Friday,MarketScreener reports. The brokerage presently has a “hold” rating on the footwear maker’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 22.66% from the company’s current price.

Other analysts also recently issued research reports about the stock. Williams Trading cut their price target on shares of NIKE from $80.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. China Renaissance lowered their target price on NIKE from $74.60 to $50.30 and set a “hold” rating for the company in a report on Thursday, April 2nd. Piper Sandler reiterated a “neutral” rating and issued a $50.00 target price (down from $60.00) on shares of NIKE in a research report on Friday, April 10th. Telsey Advisory Group reduced their price target on NIKE from $65.00 to $55.00 and set a “market perform” rating on the stock in a report on Wednesday, April 1st. Finally, CICC Research lowered shares of NIKE from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $69.00 to $58.00 in a report on Monday, April 6th. Fourteen investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of “Hold” and a consensus target price of $59.01.

View Our Latest Stock Report on NKE

NIKE Price Performance

NIKE stock opened at $40.76 on Friday. NIKE has a 12 month low of $40.00 and a 12 month high of $80.17. The stock’s 50 day moving average is $44.29 and its 200-day moving average is $54.05. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $60.37 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 1.81 and a beta of 1.12.

NIKE (NYSE:NKEGet Free Report) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm posted $0.54 EPS. Equities research analysts expect that NIKE will post 1.49 EPS for the current year.

Insider Buying and Selling

In related news, EVP Philip Mccartney sold 17,398 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. This represents a 24.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Elliott Hill purchased 23,660 shares of the company’s stock in a transaction dated Monday, April 13th. The stock was purchased at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the transaction, the chief executive officer directly owned 265,247 shares in the company, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 64,441 shares of company stock valued at $2,734,204 over the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

A number of institutional investors have recently bought and sold shares of the company. Hamilton Wealth LLC bought a new position in shares of NIKE in the 1st quarter worth about $300,000. Sapient Capital LLC boosted its position in shares of NIKE by 4.2% during the 1st quarter. Sapient Capital LLC now owns 8,233 shares of the footwear maker’s stock valued at $439,000 after purchasing an additional 331 shares in the last quarter. Western Wealth Management LLC boosted its position in shares of NIKE by 98.4% during the 1st quarter. Western Wealth Management LLC now owns 33,030 shares of the footwear maker’s stock valued at $1,745,000 after purchasing an additional 16,383 shares in the last quarter. E Wealth Partners LLC acquired a new stake in NIKE during the first quarter worth approximately $279,000. Finally, FAS Wealth Partners Inc. grew its stake in NIKE by 4.2% during the first quarter. FAS Wealth Partners Inc. now owns 6,109 shares of the footwear maker’s stock worth $323,000 after purchasing an additional 249 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

About NIKE

(Get Free Report)

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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Analyst Recommendations for NIKE (NYSE:NKE)

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