Evercore ISI Increases NIKE (NYSE:NKE) Price Target to $110.00

NIKE (NYSE:NKE) had its target price upped by equities researchers at Evercore ISI from $105.00 to $110.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the footwear maker’s stock. Evercore ISI’s price target would indicate a potential upside of 27.14% from the company’s current price.

Other analysts also recently issued reports about the company. Sanford C. Bernstein lowered their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. UBS Group reissued a “neutral” rating and issued a $78.00 price objective on shares of NIKE in a research report on Friday, June 28th. Jefferies Financial Group dropped their target price on NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Finally, Wells Fargo & Company reduced their price target on NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.15.

NIKE Stock Performance

NIKE stock opened at $86.52 on Friday. The company’s 50-day moving average price is $78.11 and its 200-day moving average price is $87.06. 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 company has a market cap of $130.59 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate 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 42.63% and a net margin of 11.10%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, equities research analysts forecast that NIKE will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after buying an additional 501,792 shares during the last quarter. Capital International Investors lifted its position in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD lifted its position in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Legal & General Group Plc increased its holdings in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of NIKE by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after purchasing an additional 211,360 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.