NIKE (NYSE:NKE) Rating Increased to Outperform at Oppenheimer

NIKE (NYSE:NKEGet Free Report) was upgraded by Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has a $120.00 price objective on the footwear maker’s stock, up from their previous price objective of $110.00. Oppenheimer’s target price would suggest a potential upside of 23.48% from the stock’s current price.

Several other equities analysts have also issued reports on NKE. Robert W. Baird decreased their price target on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Telsey Advisory Group cut their target price on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. UBS Group dropped their price objective on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Piper Sandler dropped their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $114.81.

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NIKE Stock Performance

NYSE:NKE opened at $97.18 on Friday. The stock has a market cap of $146.68 billion, a P/E ratio of 28.58, a PEG ratio of 1.80 and a beta of 1.05. The stock has a 50 day simple moving average of $93.60 and a 200 day simple moving average of $99.91. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE has a 1-year low of $88.66 and a 1-year high of $123.39.

NIKE (NYSE:NKEGet Free Report) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. Research analysts anticipate that NIKE will post 3.76 earnings per share for the current year.

Insider Activity

In other news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by insiders.

Institutional Trading of NIKE

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC boosted its position in NIKE by 1.2% during the 3rd quarter. Acadian Asset Management LLC now owns 23,508 shares of the footwear maker’s stock valued at $2,246,000 after acquiring an additional 273 shares in the last quarter. LPL Financial LLC boosted its position in shares of NIKE by 9.5% in the 3rd quarter. LPL Financial LLC now owns 855,143 shares of the footwear maker’s stock worth $81,742,000 after purchasing an additional 74,451 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of NIKE by 3.2% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 590,640 shares of the footwear maker’s stock worth $56,477,000 after purchasing an additional 18,125 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in shares of NIKE by 16.2% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 7,980 shares of the footwear maker’s stock worth $763,000 after purchasing an additional 1,110 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its position in shares of NIKE by 33.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 6,559 shares of the footwear maker’s stock worth $627,000 after purchasing an additional 1,648 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Company Profile

(Get Free Report)

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.

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Analyst Recommendations for NIKE (NYSE:NKE)

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