NIKE (NYSE:NKE) Price Target Lowered to $130.00 at Jefferies Financial Group

NIKE (NYSE:NKEGet Rating) had its target price dropped by investment analysts at Jefferies Financial Group from $155.00 to $130.00 in a research note issued on Friday, The Fly reports. Jefferies Financial Group’s target price would suggest a potential upside of 31.91% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Credit Suisse Group set a $130.00 price target on NIKE in a report on Wednesday, June 29th. BNP Paribas downgraded NIKE from an “outperform” rating to a “neutral” rating and set a $118.00 target price on the stock. in a research note on Tuesday, August 9th. Seaport Res Ptn downgraded NIKE from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 22nd. KeyCorp began coverage on NIKE in a research note on Wednesday, July 20th. They set a “sector weight” rating on the stock. Finally, Barclays cut NIKE from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $125.00 to $110.00 in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.81.

NIKE Price Performance

Shares of NKE stock opened at $98.55 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.84 and a current ratio of 2.63. The stock has a 50 day moving average price of $109.72 and a 200 day moving average price of $115.81. The firm has a market capitalization of $154.58 billion, a P/E ratio of 26.21, a P/E/G ratio of 2.11 and a beta of 1.03. NIKE has a 52-week low of $97.83 and a 52-week high of $179.10.

NIKE (NYSE:NKEGet Rating) last issued its earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $12.10 billion. NIKE had a return on equity of 40.74% and a net margin of 12.94%. NIKE’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. As a group, sell-side analysts predict that NIKE will post 3.78 earnings per share for the current year.

NIKE declared that its Board of Directors has authorized a stock repurchase program on Monday, June 27th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the footwear maker to repurchase up to 11% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other NIKE news, CFO Matthew Friend sold 4,139 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total transaction of $469,445.38. Following the transaction, the chief financial officer now directly owns 56,539 shares in the company, valued at $6,412,653.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NIKE news, COO Andrew Campion sold 5,922 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total transaction of $671,673.24. Following the transaction, the chief operating officer now directly owns 75,295 shares in the company, valued at $8,539,958.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Friend sold 4,139 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total value of $469,445.38. Following the completion of the sale, the chief financial officer now owns 56,539 shares in the company, valued at $6,412,653.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,561 shares of company stock worth $6,374,094. Company insiders own 0.40% of the company’s stock.

Institutional Trading of NIKE

Several hedge funds have recently modified their holdings of the stock. Prestige Wealth Management Group LLC raised its stake in shares of NIKE by 3.2% in the fourth quarter. Prestige Wealth Management Group LLC now owns 2,292 shares of the footwear maker’s stock valued at $382,000 after acquiring an additional 70 shares in the last quarter. Vectors Research Management LLC raised its stake in NIKE by 11.3% in the fourth quarter. Vectors Research Management LLC now owns 708 shares of the footwear maker’s stock valued at $118,000 after buying an additional 72 shares in the last quarter. Wealthquest Corp raised its stake in NIKE by 2.1% in the fourth quarter. Wealthquest Corp now owns 3,786 shares of the footwear maker’s stock valued at $631,000 after buying an additional 79 shares in the last quarter. Bank of New Hampshire raised its stake in NIKE by 0.6% in the first quarter. Bank of New Hampshire now owns 13,282 shares of the footwear maker’s stock valued at $1,787,000 after buying an additional 80 shares in the last quarter. Finally, Gilman Hill Asset Management LLC raised its stake in NIKE by 1.8% in the first quarter. Gilman Hill Asset Management LLC now owns 4,777 shares of the footwear maker’s stock valued at $643,000 after buying an additional 84 shares in the last quarter. 64.19% of the stock is currently owned by institutional investors and hedge funds.

NIKE Company Profile

(Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.

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