Citigroup Lowers NIKE (NYSE:NKE) Price Target to $102.00

NIKE (NYSE:NKE) had its target price reduced by research analysts at Citigroup from $115.00 to $102.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the footwear maker’s stock. Citigroup’s target price would suggest a potential upside of 35.33% from the company’s current price.

Several other equities research analysts have also recently weighed in on NKE. The Goldman Sachs Group lowered their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research report on Friday. Bank of America lowered their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research report on Friday. UBS Group reaffirmed a “neutral” rating and issued a $78.00 price target on shares of NIKE in a research report on Friday. Finally, TD Cowen lowered their price target on shares of NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $98.96.

NIKE Trading Down 20.0 %

NIKE stock traded down $18.82 during trading hours on Friday, hitting $75.37. The company had a trading volume of 128,860,847 shares, compared to its average volume of 10,204,721. The firm has a market cap of $113.76 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.79 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE has a 1 year low of $74.55 and a 1 year high of $123.39. The company has a 50-day moving average price of $93.70 and a two-hundred day moving average price of $99.48.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. On average, sell-side analysts anticipate that NIKE will post 3.81 earnings per share for the current year.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

Institutional investors have recently modified their holdings of the stock. Annapolis Financial Services LLC grew its position in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the period. Iron Horse Wealth Management LLC grew its position in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. acquired a new stake in shares of NIKE in the fourth quarter valued at about $29,000. True Wealth Design LLC grew its position in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $33,000. Institutional investors and hedge funds 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.