Robert W. Baird Trims NIKE (NYSE:NKE) Target Price to $150.00

NIKE (NYSE:NKEGet Rating) had its price objective decreased by investment analysts at Robert W. Baird from $165.00 to $150.00 in a report released on Tuesday, The Fly reports. Robert W. Baird’s price target would indicate a potential upside of 39.74% from the company’s previous close.

Several other research analysts have also weighed in on NKE. The Goldman Sachs Group set a $177.00 price objective on NIKE in a research report on Tuesday, March 22nd. UBS Group lowered their price target on NIKE from $173.00 to $168.00 and set a “buy” rating for the company in a research report on Wednesday, June 15th. BMO Capital Markets lowered their price target on NIKE from $170.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, March 22nd. Truist Financial raised their price target on NIKE from $164.00 to $176.00 in a research report on Tuesday, March 22nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $159.00 price target on shares of NIKE in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $164.85.

Shares of NIKE stock opened at $107.34 on Tuesday. The firm has a market capitalization of $168.93 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 1.72 and a beta of 0.96. NIKE has a fifty-two week low of $103.46 and a fifty-two week high of $179.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.18 and a current ratio of 3.06. The stock has a 50 day moving average of $118.50 and a 200 day moving average of $135.89.

NIKE (NYSE:NKEGet Rating) last issued its quarterly earnings data on Monday, March 21st. The footwear maker reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.14. The company had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.61 billion. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 earnings per share. Analysts forecast that NIKE will post 3.68 EPS for the current year.

In related news, COO Andrew Campion sold 14,203 shares of NIKE stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $120.61, for a total value of $1,713,023.83. Following the transaction, the chief operating officer now directly owns 73,795 shares in the company, valued at approximately $8,900,414.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew Friend sold 9,032 shares of the firm’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $110.52, for a total value of $998,216.64. Following the completion of the sale, the chief financial officer now directly owns 51,581 shares of the company’s stock, valued at approximately $5,700,732.12. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Aquire Wealth Advisors LLC acquired a new stake in NIKE in the fourth quarter valued at $26,000. Retirement Planning Co of New England Inc. acquired a new stake in NIKE in the fourth quarter valued at $26,000. FNY Investment Advisers LLC acquired a new stake in NIKE in the first quarter valued at $26,000. Antonetti Capital Management LLC lifted its holdings in NIKE by 900.0% in the first quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker’s stock valued at $27,000 after acquiring an additional 180 shares during the period. Finally, Horan Securities Inc. acquired a new position in shares of NIKE during the 4th quarter worth $29,000. 65.35% of the stock is owned by institutional investors.

NIKE Company Profile (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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