Stifel Nicolaus Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its target price lowered by investment analysts at Stifel Nicolaus from $75.00 to $64.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the footwear maker’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 17.57% from the company’s previous close.

A number of other research firms have also recently commented on NKE. Guggenheim reiterated a “buy” rating and issued a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. Bank of America lowered their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Morgan Stanley reduced their target price on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Finally, Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $75.00 to $115.00 in a research note on Monday, February 24th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.19.

NIKE Price Performance

NYSE NKE opened at $54.44 on Thursday. The firm’s fifty day simple moving average is $70.03 and its two-hundred day simple moving average is $74.93. The firm has a market capitalization of $80.52 billion, a P/E ratio of 16.80, a P/E/G ratio of 2.52 and a beta of 1.15. 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 12-month low of $52.28 and a 12-month high of $98.04.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. Analysts forecast that NIKE will post 2.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction on Friday, April 4th. The shares were bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated 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 completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Institutional Trading of NIKE

A number of hedge funds have recently bought and sold shares of NKE. Persium Advisors LLC grew its position in shares of NIKE by 32.7% in the first quarter. Persium Advisors LLC now owns 6,889 shares of the footwear maker’s stock valued at $437,000 after purchasing an additional 1,698 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in shares of NIKE by 1.4% in the 1st quarter. Gateway Investment Advisers LLC now owns 17,738 shares of the footwear maker’s stock worth $1,126,000 after acquiring an additional 246 shares during the last quarter. City State Bank raised its holdings in shares of NIKE by 26.2% during the 1st quarter. City State Bank now owns 4,822 shares of the footwear maker’s stock worth $306,000 after acquiring an additional 1,000 shares during the period. Chemistry Wealth Management LLC boosted its position in shares of NIKE by 2.7% during the 1st quarter. Chemistry Wealth Management LLC now owns 40,756 shares of the footwear maker’s stock valued at $2,587,000 after acquiring an additional 1,064 shares during the last quarter. Finally, Pines Wealth Management LLC grew its holdings in shares of NIKE by 60.2% in the first quarter. Pines Wealth Management LLC now owns 5,330 shares of the footwear maker’s stock valued at $338,000 after purchasing an additional 2,003 shares during the period. 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.