NIKE’s (NKE) “Market Perform” Rating Reiterated at Telsey Advisory Group

NIKE (NYSE:NKE)‘s stock had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group in a research note issued to investors on Thursday,Benzinga reports. They currently have a $80.00 price objective on the footwear maker’s stock. Telsey Advisory Group’s target price would indicate a potential upside of 16.47% from the company’s current price.

NKE has been the topic of a number of other reports. UBS Group reissued a “neutral” rating and set a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Evercore ISI cut their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price target on shares of NIKE in a report on Friday, December 20th. Finally, Truist Financial reduced their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Price Performance

Shares of NYSE:NKE opened at $68.69 on Thursday. NIKE has a one year low of $68.62 and a one year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market cap of $101.60 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.50 and a beta of 1.01. The firm has a 50 day simple moving average of $75.32 and a 200 day simple moving average of $78.05.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the business earned $1.03 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. Research analysts predict 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. acquired 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at $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 link. 1.10% of the stock is owned by company insiders.

Institutional Trading of NIKE

Several hedge funds have recently bought and sold shares of NKE. Atomi Financial Group Inc. grew its holdings in NIKE by 4.7% during the third quarter. Atomi Financial Group Inc. now owns 11,243 shares of the footwear maker’s stock worth $994,000 after buying an additional 500 shares in the last quarter. Brookstone Capital Management grew its stake in shares of NIKE by 11.3% in the 3rd quarter. Brookstone Capital Management now owns 91,176 shares of the footwear maker’s stock worth $8,060,000 after acquiring an additional 9,226 shares in the last quarter. First PREMIER Bank raised its holdings in shares of NIKE by 666.7% in the third quarter. First PREMIER Bank now owns 690 shares of the footwear maker’s stock valued at $61,000 after purchasing an additional 600 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in shares of NIKE by 35.4% during the third quarter. Hexagon Capital Partners LLC now owns 3,196 shares of the footwear maker’s stock valued at $283,000 after purchasing an additional 835 shares in the last quarter. Finally, High Note Wealth LLC purchased a new position in NIKE during the third quarter worth about $208,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.