NIKE (NYSE:NKE) Earns Market Perform Rating from Telsey Advisory Group

NIKE (NYSE:NKE)‘s stock had its “market perform” rating restated by Telsey Advisory Group in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $80.00 price objective on the footwear maker’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 3.17% from the company’s previous close.

Other analysts have also recently issued reports about the company. Royal Bank of Canada cut their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Stifel Nicolaus cut their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Piper Sandler raised 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 report on Friday, January 10th. Truist Financial cut their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Robert W. Baird lowered their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $88.62.

NIKE Stock Performance

Shares of NIKE stock opened at $77.54 on Wednesday. The business has a 50-day simple moving average of $74.38 and a 200-day simple moving average of $78.07. The company has a market cap of $114.70 billion, a PE ratio of 23.93, a P/E/G ratio of 2.38 and a beta of 1.01. NIKE has a one year low of $68.62 and a one year high of $106.62. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 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 analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The firm’s revenue was down 7.7% on a year-over-year basis. On average, equities research analysts forecast that NIKE will post 2.05 EPS for the current fiscal year.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several institutional investors and hedge funds have recently modified their holdings of NKE. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the 4th quarter worth $28,000. Caitlin John LLC increased its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the third quarter worth about $30,000. Roxbury Financial LLC acquired a new stake in NIKE in the 4th quarter worth about $30,000. Finally, LFA Lugano Financial Advisors SA boosted its stake in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors 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.