JPMorgan Chase & Co. Lowers NIKE (NYSE:NKE) Price Target to $56.00

NIKE (NYSE:NKE) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $64.00 to $56.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the footwear maker’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 2.02% from the stock’s current price.

A number of other equities research analysts have also recently commented on NKE. Needham & Company LLC reduced their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 17th. The Goldman Sachs Group reduced their target price on shares of NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Guggenheim restated a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Stifel Nicolaus decreased their price objective on shares of NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Finally, Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $80.48.

NIKE Stock Down 0.3 %

NKE stock opened at $57.15 on Monday. The firm has a 50-day moving average price of $63.70 and a 200-day moving average price of $71.72. The stock has a market capitalization of $84.54 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE has a 12 month low of $52.28 and a 12 month high of $98.04.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, equities research analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Holmes Swan acquired 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC bought a new stake in NIKE during the 4th quarter valued at $28,000. Caitlin John LLC boosted its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Roxbury Financial LLC purchased a new position in NIKE during the 4th quarter worth $30,000. Hopwood Financial Services Inc. acquired a new position in shares of NIKE during the fourth quarter valued at about $30,000. Finally, LFA Lugano Financial Advisors SA raised its holdings in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.