UBS Group Lowers NIKE (NYSE:NKE) Price Target to $66.00

NIKE (NYSE:NKE) had its price target lowered by analysts at UBS Group from $73.00 to $66.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the footwear maker’s stock. UBS Group’s target price points to a potential downside of 3.34% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company reduced their price objective on NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. BMO Capital Markets dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday. Robert W. Baird decreased their price target on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Stifel Nicolaus lowered their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.27.

NIKE Stock Down 5.0 %

NIKE stock traded down $3.58 during trading on Friday, hitting $68.28. 39,511,877 shares of the company were exchanged, compared to its average volume of 12,361,000. NIKE has a 52 week low of $65.25 and a 52 week high of $101.92. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $100.99 billion, a P/E ratio of 21.07, a PEG ratio of 2.52 and a beta of 1.02. The business’s 50 day moving average is $74.77 and its 200 day moving average is $77.56.

NIKE (NYSE:NKE) last released its quarterly earnings results 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 business 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%. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. Analysts predict that NIKE will post 2.05 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly 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 legal filing with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On NIKE

Several institutional investors have recently modified their holdings of the company. JNBA Financial Advisors boosted its stake in NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after buying an additional 131 shares in the last quarter. Frisch Financial Group Inc. boosted its stake in shares of NIKE by 4.7% in the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after purchasing an additional 136 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after purchasing an additional 136 shares during the last quarter. Elgethun Capital Management raised its position in NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock worth $94,000 after purchasing an additional 149 shares during the period. Finally, GAMMA Investing LLC lifted its stake in NIKE by 1.0% in the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after purchasing an additional 150 shares during the last quarter. 64.25% of the stock is currently owned by 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.