NIKE (NYSE:NKE) Rating Reiterated by Oppenheimer

NIKE (NYSE:NKE)‘s stock had its “outperform” rating reaffirmed by stock analysts at Oppenheimer in a report issued on Friday, Benzinga reports. They presently have a $120.00 target price on the footwear maker’s stock. Oppenheimer’s price objective would indicate a potential upside of 59.21% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company decreased their price objective on NIKE from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, June 10th. Truist Financial restated a “hold” rating and set a $99.00 price target on shares of NIKE in a research report on Thursday, June 20th. The Goldman Sachs Group reduced their price target on NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Jefferies Financial Group reduced their price target on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Finally, Piper Sandler reduced their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $98.96.

NIKE Stock Performance

Shares of NYSE NKE opened at $75.37 on Friday. The stock has a market cap of $113.76 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 1.79 and a beta of 1.05. 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 $74.55 and a 1-year high of $123.39. The stock’s 50-day moving average is $93.28 and its 200 day moving average is $99.00.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. On average, sell-side analysts anticipate that NIKE will post 3.9 EPS for the current fiscal year.

Insider Activity at NIKE

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other NIKE news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Sherbrooke Park Advisers LLC purchased a new position in shares of NIKE in the third quarter worth $432,000. United Services Automobile Association raised its stake in shares of NIKE by 18.1% in the third quarter. United Services Automobile Association now owns 33,626 shares of the footwear maker’s stock worth $3,215,000 after purchasing an additional 5,165 shares during the last quarter. Kidder Stephen W raised its stake in shares of NIKE by 5.3% in the third quarter. Kidder Stephen W now owns 36,552 shares of the footwear maker’s stock worth $3,495,000 after purchasing an additional 1,850 shares during the last quarter. Gateway Advisory LLC purchased a new position in shares of NIKE in the third quarter worth $583,000. Finally, Quadrature Capital Ltd raised its stake in shares of NIKE by 80.9% in the third quarter. Quadrature Capital Ltd now owns 1,066,172 shares of the footwear maker’s stock worth $101,969,000 after purchasing an additional 476,837 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

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.