NIKE (NYSE:NKE) Given New $64.00 Price Target at JPMorgan Chase & Co.

NIKE (NYSE:NKE - Get Free Report) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $56.00 to $64.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the footwear maker's stock. JPMorgan Chase & Co.'s target price suggests a potential downside of 10.76% from the stock's current price.

Other research analysts also recently issued reports about the company. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Barclays dropped their price target on shares of NIKE from $60.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. BMO Capital Markets decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. China Renaissance started coverage on NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating for the company. Finally, Williams Trading decreased their price target on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $77.96.

NIKE Trading Up 14.7%

Shares of NIKE stock opened at $71.72 on Friday. NIKE has a 1-year low of $52.28 and a 1-year high of $94.74. The company's fifty day simple moving average is $60.31 and its 200-day simple moving average is $67.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52. The stock has a market capitalization of $106.08 billion, a PE ratio of 23.88, a P/E/G ratio of 2.23 and a beta of 1.21.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. NIKE's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. As a group, equities analysts anticipate that NIKE will post 2.05 earnings per share for the current year.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. AG2R LA Mondiale Gestion D Actifs acquired a new position in NIKE during the first quarter valued at $2,645,000. Swedbank AB lifted its holdings in shares of NIKE by 2.8% in the 1st quarter. Swedbank AB now owns 953,011 shares of the footwear maker's stock valued at $60,497,000 after buying an additional 26,026 shares during the period. Voya Investment Management LLC boosted its stake in shares of NIKE by 1.8% in the first quarter. Voya Investment Management LLC now owns 1,453,473 shares of the footwear maker's stock worth $92,266,000 after buying an additional 25,481 shares during the last quarter. BROOKFIELD Corp ON grew its holdings in NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock worth $41,808,000 after acquiring an additional 175,000 shares during the period. Finally, eCIO Inc. purchased a new position in NIKE during the first quarter valued at approximately $52,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.

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