NIKE (NYSE:NKE) Raised to “Overweight” at Piper Sandler

NIKE (NYSE:NKE) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a $90.00 price objective on the footwear maker’s stock, up from their prior price objective of $72.00. Piper Sandler’s price target points to a potential upside of 26.21% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Guggenheim dropped their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Truist Financial dropped their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $93.00 to $80.00 in a report on Friday, December 20th. Jefferies Financial Group raised their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Stock Down 1.1 %

NKE stock opened at $71.31 on Friday. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market capitalization of $106.92 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 1.89 and a beta of 1.02. The business’s fifty day moving average price is $76.43 and its two-hundred day moving average price is $78.65.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period last year, the firm earned $1.03 earnings per share. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities analysts anticipate that NIKE will post 2.72 earnings per share for the current year.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Several large investors have recently modified their holdings of the company. State Street Corp grew its stake in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP grew its position in shares of NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after buying an additional 1,343,093 shares during the period. Geode Capital Management LLC increased its stake in shares of NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after acquiring an additional 251,411 shares in the last quarter. Legal & General Group Plc lifted its position in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after acquiring an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after acquiring an additional 583,207 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services 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.