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

NIKE (NYSE:NKE) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $100.00 to $86.00 in a report issued on Monday,MarketScreener Latest Ratings reports. The firm currently has a “buy” rating on the footwear maker’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 36.68% from the company’s previous close.

NKE has been the subject of a number of other research reports. Cowen raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 price target on shares of NIKE in a report on Monday, September 29th. BTIG Research started coverage on shares of NIKE in a research note on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price objective for the company. Sanford C. Bernstein reissued a “buy” rating and set a $90.00 price objective on shares of NIKE in a report on Monday, October 13th. Finally, Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $82.24.

NIKE Stock Performance

NKE traded down $1.25 during trading on Monday, reaching $62.92. The company’s stock had a trading volume of 12,639,648 shares, compared to its average volume of 16,150,063. 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 company’s fifty day moving average price is $68.50 and its 200-day moving average price is $68.82. NIKE has a 52-week low of $52.28 and a 52-week high of $82.44. The company has a market capitalization of $93.01 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29.

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 analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 EPS. On average, equities analysts forecast that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Activity at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the company’s stock in a transaction 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 directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This represents a 308.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of NIKE

Large investors have recently made changes to their positions in the stock. Stone House Investment Management LLC purchased a new position in NIKE in the 1st quarter valued at about $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of NIKE during the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC raised its position in shares of NIKE by 952.6% in 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. Saudi Central Bank acquired a new position in shares of NIKE in the first quarter valued at approximately $30,000. Finally, Matrix Trust Co lifted its stake in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds 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.