UBS Group Increases NIKE (NYSE:NKE) Price Target to $82.00

NIKE (NYSE:NKE) had its price objective increased by UBS Group from $78.00 to $82.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the footwear maker’s stock. UBS Group’s price objective indicates a potential downside of 0.13% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Truist Financial decreased their price objective on shares of NIKE from $85.00 to $83.00 and set a “hold” rating on the stock in a report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research note on Friday, June 28th. TD Cowen cut their price objective on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $92.00 target price on shares of NIKE in a research report on Friday, September 20th. Finally, Sanford C. Bernstein reduced their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.04.

NIKE Trading Down 1.2 %

NKE stock opened at $82.11 on Wednesday. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a market cap of $123.93 billion, a P/E ratio of 22.01, a PEG ratio of 2.30 and a beta of 1.02. The company’s 50-day simple moving average is $80.71 and its 200-day simple moving average is $86.36.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. As a group, equities analysts forecast that NIKE will post 3.04 EPS for the current fiscal year.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Cim LLC purchased a new position in NIKE in the fourth quarter valued at $14,275,000. TKG Advisors LLC purchased a new position in shares of NIKE in the 4th quarter valued at about $1,012,000. Spartan Planning & Wealth Management acquired a new position in shares of NIKE during the fourth quarter worth about $182,000. Advisors Asset Management Inc. increased its stake in shares of NIKE by 86.0% during the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after buying an additional 9,689 shares during the period. Finally, Enzi Wealth acquired a new stake in NIKE in the fourth quarter valued at approximately $520,000. 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.