NIKE (NYSE:NKE) Price Target Lowered to $68.00 at Needham & Company LLC

NIKE (NYSE:NKE) had its price objective reduced by equities research analysts at Needham & Company LLC from $78.00 to $68.00 in a report released on Friday, MarketBeat reports. The firm currently has a “buy” rating on the footwear maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 3.40% from the company’s current price.

A number of other research firms have also weighed in on NKE. Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 price objective on shares of NIKE in a research report on Friday, December 12th. Cowen raised NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Morgan Stanley set a $72.00 price target on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Telsey Advisory Group reissued a “market perform” rating and set a $75.00 price objective on shares of NIKE in a research report on Wednesday, December 10th. Finally, KeyCorp set a $90.00 price objective on shares of NIKE and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Four analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.38.

NIKE Stock Up 0.1%

Shares of NIKE stock opened at $65.77 on Friday. NIKE has a 1 year low of $52.28 and a 1 year high of $82.44. The firm has a market cap of $97.22 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 2.32 and a beta of 1.29. The company has a 50-day moving average of $65.18 and a 200 day moving average of $69.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $64.80, for a total value of $5,577,854.40. Following the completion of the sale, the chairman owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. The trade was a 11.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

Institutional Trading of NIKE

Several large investors have recently modified their holdings of NKE. Brighton Jones LLC boosted its position in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares during the last quarter. EntryPoint Capital LLC lifted its stake in shares of NIKE by 24.9% in the 1st quarter. EntryPoint Capital LLC now owns 4,049 shares of the footwear maker’s stock worth $257,000 after purchasing an additional 806 shares during the period. Capital Analysts LLC boosted its holdings in shares of NIKE by 135.1% in the first quarter. Capital Analysts LLC now owns 5,212 shares of the footwear maker’s stock worth $330,000 after buying an additional 2,995 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of NIKE by 30.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 226,612 shares of the footwear maker’s stock worth $14,386,000 after buying an additional 52,820 shares during the last quarter. Finally, United Asset Strategies Inc. grew its position in NIKE by 23.1% during the first quarter. United Asset Strategies Inc. now owns 17,846 shares of the footwear maker’s stock valued at $1,133,000 after buying an additional 3,348 shares during the period. 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.