Telsey Advisory Group Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its target price cut by analysts at Telsey Advisory Group from $80.00 to $70.00 in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm currently has a “market perform” rating on the footwear maker’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 22.01% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Bank of America dropped their price objective on NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Berenberg Bank initiated coverage on shares of NIKE in a research report on Tuesday, April 15th. They issued a “hold” rating and a $58.00 price objective for the company. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Robert W. Baird cut their price target on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, UBS Group reduced their target price on NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.48.

NIKE Trading Down 2.1 %

Shares of NIKE stock opened at $57.37 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market capitalization of $84.86 billion, a P/E ratio of 17.71, a P/E/G ratio of 2.52 and a beta of 1.15. NIKE has a 52-week low of $52.28 and a 52-week high of $98.04. The stock’s 50-day simple moving average is $64.16 and its 200 day simple moving average is $71.82.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the prior year, the company posted $0.98 EPS. NIKE’s revenue was down 9.1% compared to the same quarter last year. As a group, research analysts anticipate that NIKE will post 2.05 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On NIKE

Several hedge funds have recently bought and sold shares of the business. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter worth $28,000. Caitlin John LLC grew its position in NIKE by 117.0% during the 4th 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. Roxbury Financial LLC bought a new stake in NIKE during the 4th quarter valued at about $30,000. Hopwood Financial Services Inc. purchased a new position in NIKE in the fourth quarter worth about $30,000. Finally, LFA Lugano Financial Advisors SA lifted its stake in shares of 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 buying an additional 210 shares in the last quarter. 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.