JPMorgan Chase & Co. Lowers NIKE (NYSE:NKE) Price Target to $64.00

NIKE (NYSE:NKE) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $73.00 to $64.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the footwear maker’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 6.27% from the company’s current price.

NKE has been the subject of a number of other research reports. China Renaissance started coverage on NIKE in a report on Wednesday. They issued a “hold” rating for the company. Stifel Nicolaus lowered their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Needham & Company LLC cut their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Monday. UBS Group lowered their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Friday. Finally, Morgan Stanley cut their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday. Fifteen 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Trading Down 5.0 %

NYSE NKE traded down $3.58 during trading on Friday, hitting $68.28. The company had a trading volume of 41,814,176 shares, compared to its average volume of 12,367,750. The company’s fifty day moving average is $74.77 and its 200-day moving average is $77.56. The company has a market cap of $100.99 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE has a one year low of $65.25 and a one year high of $101.92.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. During the same period last year, the business posted $0.98 earnings per share. NIKE’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts predict that NIKE will post 2.05 earnings per share for the current year.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on 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 directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC bought a new stake in NIKE in the fourth quarter worth $28,000. Caitlin John LLC boosted its stake in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America bought a new position in NIKE during the 3rd quarter valued at about $30,000. Roxbury Financial LLC purchased a new stake in NIKE in the 4th quarter worth about $30,000. Finally, LFA Lugano Financial Advisors SA lifted its stake in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.