JPMorgan Chase & Co. Cuts NIKE (NYSE:NKE) Price Target to $86.00

NIKE (NYSE:NKE) had its price target lowered by JPMorgan Chase & Co. from $100.00 to $86.00 in a research report report published on Monday,MarketScreener Latest Ratings reports. The firm currently has a buy rating on the footwear maker’s stock.

A number of other equities analysts also recently commented on the company. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Morgan Stanley set a $72.00 price objective on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 target price on shares of NIKE in a research report on Monday, September 29th. Needham & Company LLC reiterated a “buy” rating and set a $78.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Finally, Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.24.

NIKE Stock Performance

Shares of NKE stock opened at $62.79 on Monday. The company has a market capitalization of $92.81 billion, a P/E ratio of 32.20, a PEG ratio of 2.41 and a beta of 1.29. NIKE has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The stock has a 50 day moving average price of $67.82 and a two-hundred day moving average price of $68.85.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter last year, the business earned $0.70 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. Analysts expect that NIKE will post 2.05 earnings per share for the current year.

Insider Activity

In other news, Director Jorgen Vig Knudstorp acquired 16,150 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average cost of $62.09 per share, with a total value of $1,002,753.50. Following the transaction, the director owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This trade represents a 308.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the completion of the transaction, the chairman directly owned 647,615 shares of the company’s stock, valued at $41,965,452. This trade represents a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently made changes to their positions in NKE. Mascoma Wealth Management LLC bought a new stake in shares of NIKE in the 2nd quarter worth $26,000. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the first quarter valued at $25,000. Halbert Hargrove Global Advisors LLC boosted its position in shares of NIKE by 952.6% during the second 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 during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in NIKE in the 2nd quarter worth about $31,000. Finally, Matrix Trust Co raised its position in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

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.