NIKE (NYSE:NKE) Price Target Cut to $99.00 by Analysts at Robert W. Baird

NIKE (NYSE:NKE) had its price objective reduced by stock analysts at Robert W. Baird from $105.00 to $99.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the footwear maker’s stock. Robert W. Baird’s target price would suggest a potential upside of 38.25% from the stock’s current price.

A number of other analysts have also weighed in on the company. Needham & Company LLC lowered their target price on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley reduced their price target on NIKE from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. China Renaissance started coverage on NIKE in a research report on Wednesday. They set a “hold” rating on the stock. Evercore ISI reduced their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Truist Financial decreased their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.23.

NIKE Price Performance

NKE opened at $71.61 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $74.77 and its 200-day simple moving average is $77.56. The company has a market capitalization of $105.92 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 2.52 and a beta of 1.02. NIKE has a 12-month low of $66.51 and a 12-month high of $101.92.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the firm posted $0.98 EPS. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, equities research analysts anticipate that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction that occurred on 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 acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently modified their holdings of NKE. Thrivent Financial for Lutherans lifted its position in shares of NIKE by 4.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker’s stock valued at $5,875,000 after buying an additional 2,843 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in NIKE by 39.6% during the third quarter. Advisors Asset Management Inc. now owns 48,282 shares of the footwear maker’s stock valued at $4,268,000 after purchasing an additional 13,689 shares in the last quarter. Intech Investment Management LLC grew its position in shares of NIKE by 3.2% in the third quarter. Intech Investment Management LLC now owns 51,478 shares of the footwear maker’s stock valued at $4,551,000 after purchasing an additional 1,580 shares during the period. LPL Financial LLC grew its position in shares of NIKE by 19.3% in the third quarter. LPL Financial LLC now owns 1,028,131 shares of the footwear maker’s stock valued at $90,887,000 after purchasing an additional 166,127 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of NIKE by 19.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker’s stock worth $637,352,000 after purchasing an additional 1,184,252 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

About NIKE

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.