Deutsche Bank Aktiengesellschaft Lowers NIKE (NYSE:NKE) Price Target to $92.00

NIKE (NYSE:NKE) had its target price lowered by stock analysts at Deutsche Bank Aktiengesellschaft from $115.00 to $92.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the footwear maker’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 22.28% from the stock’s current price.

NKE has been the subject of a number of other research reports. Wedbush decreased their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Williams Trading reaffirmed a “sell” rating and set a $85.00 price objective (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Guggenheim dropped their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Telsey Advisory Group cut their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Hold” and an average price target of $97.19.

NIKE Stock Performance

NKE stock opened at $75.24 on Wednesday. The company has a market capitalization of $113.56 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 1.85 and a beta of 1.01. The firm has a 50 day moving average of $92.19 and a two-hundred day moving average of $98.06. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE has a 12 month low of $74.29 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts anticipate that NIKE will post 3.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was 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 directly owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock worth $19,946,333 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Institutional investors have recently bought and sold shares of the business. Hudson Valley Investment Advisors Inc. ADV grew its holdings in shares of NIKE by 19.5% during the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 8,299 shares of the footwear maker’s stock worth $625,000 after purchasing an additional 1,356 shares during the last quarter. GAMMA Investing LLC grew its holdings in NIKE by 50.4% during the 2nd quarter. GAMMA Investing LLC now owns 16,473 shares of the footwear maker’s stock worth $1,242,000 after acquiring an additional 5,521 shares during the last quarter. Transcend Capital Advisors LLC increased its position in NIKE by 9.6% in the 2nd quarter. Transcend Capital Advisors LLC now owns 12,229 shares of the footwear maker’s stock valued at $922,000 after acquiring an additional 1,067 shares in the last quarter. Confluence Investment Management LLC raised its stake in shares of NIKE by 31.4% in the second quarter. Confluence Investment Management LLC now owns 228,972 shares of the footwear maker’s stock worth $17,258,000 after acquiring an additional 54,672 shares during the last quarter. Finally, NBW Capital LLC lifted its position in shares of NIKE by 0.9% during the first quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock worth $4,468,000 after purchasing an additional 431 shares in 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.