Barclays Issues Positive Forecast for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE - Get Free Report) had its price objective upped by research analysts at Barclays from $53.00 to $64.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the footwear maker's stock. Barclays's price target indicates a potential downside of 11.82% from the stock's previous close.

A number of other equities research analysts have also recently commented on the stock. BMO Capital Markets reduced their target price on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Stifel Nicolaus cut their price objective on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Finally, Piper Sandler lowered their price objective on NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.11.

NIKE Stock Performance

NKE traded up $10.04 on Friday, reaching $72.58. The company had a trading volume of 43,336,787 shares, compared to its average volume of 15,563,033. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57. NIKE has a 1 year low of $52.28 and a 1 year high of $94.74. The stock has a market capitalization of $107.35 billion, a PE ratio of 24.00, a P/E/G ratio of 2.23 and a beta of 1.21. The stock has a 50-day moving average price of $60.31 and a 200-day moving average price of $67.63.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The business's revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. As a group, research analysts forecast that NIKE will post 2.05 EPS for the current fiscal year.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after acquiring an additional 2,416,601 shares during the last quarter. Capitolis Liquid Global Markets LLC lifted its stake in shares of NIKE by 40.9% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock worth $23,458,000 after purchasing an additional 90,000 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after purchasing an additional 463,470 shares during the last quarter. Markel Group Inc. grew its position in shares of NIKE by 0.8% in the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock valued at $32,720,000 after purchasing an additional 3,500 shares during the period. Finally, Evergreen Capital Management LLC grew its position in shares of NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock valued at $18,042,000 after purchasing an additional 7,536 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

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.

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