BMO Capital Markets Raises NIKE (NYSE:NKE) Price Target to $95.00

NIKE (NYSE:NKE) had its target price upped by stock analysts at BMO Capital Markets from $92.00 to $95.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the footwear maker’s stock. BMO Capital Markets’ price target would suggest a potential upside of 23.67% from the company’s current price.

NKE has been the topic of several other research reports. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Robert W. Baird decreased their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Morgan Stanley decreased their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Stifel Nicolaus decreased their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. 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 stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $89.77.

NIKE Stock Down 1.9 %

Shares of NYSE NKE opened at $76.82 on Monday. NIKE has a 52 week low of $70.32 and a 52 week high of $107.43. The business has a 50-day simple moving average of $75.60 and a two-hundred day simple moving average of $78.06. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $113.62 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the firm posted $1.03 EPS. The company’s revenue was down 7.7% compared to the same quarter last year. Research analysts anticipate that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On NIKE

Institutional investors have recently modified their holdings of the stock. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter worth $28,000. Caitlin John LLC grew its stake in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the third quarter worth $30,000. Roxbury Financial LLC purchased a new stake in shares of NIKE in the fourth quarter worth $30,000. Finally, VitalStone Financial LLC grew its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.