NIKE (NYSE:NKE) Rating Increased to Buy at TD Cowen

NIKE (NYSE:NKE) was upgraded by TD Cowen from a “hold” rating to a “buy” rating in a report released on Wednesday, MarketBeat Ratings reports. The firm presently has a $85.00 price target on the footwear maker’s stock, up from their prior price target of $62.00. TD Cowen’s target price indicates a potential upside of 15.49% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Truist Financial lowered their price target on shares of NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, June 24th. The Goldman Sachs Group boosted their price target on shares of NIKE from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Robert W. Baird boosted their price target on shares of NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. Royal Bank Of Canada lowered their price objective on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 20th. Finally, Needham & Company LLC upped their price objective on shares of NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.67.

NIKE Stock Down 0.7%

Shares of NYSE:NKE opened at $73.60 on Wednesday. The firm has a fifty day moving average price of $75.54 and a two-hundred day moving average price of $67.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE has a one year low of $52.28 and a one year high of $90.62. The company has a market cap of $108.70 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 2.69 and a beta of 1.24.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the firm posted $0.99 EPS. The firm’s revenue was down 11.9% compared to the same quarter last year. Analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On NIKE

Institutional investors and hedge funds have recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new position in shares of NIKE during the 1st quarter worth $25,000. Mascoma Wealth Management LLC purchased a new position in shares of NIKE during the 2nd quarter valued at $26,000. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the 4th quarter valued at $28,000. Halbert Hargrove Global Advisors LLC lifted its stake in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after buying an additional 362 shares in the last quarter. Finally, Saudi Central Bank purchased a new position in shares of NIKE during the 1st quarter valued at $30,000. 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.