Telsey Advisory Group Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE - Get Free Report) had its price target dropped by stock analysts at Telsey Advisory Group from $80.00 to $70.00 in a note issued to investors on Tuesday, MarketBeat.com reports. The firm presently has a "market perform" rating on the footwear maker's stock. Telsey Advisory Group's target price suggests a potential upside of 19.97% from the company's previous close.

NKE has been the topic of several other reports. Jefferies Financial Group upgraded shares of NIKE from a "hold" rating to a "buy" rating and increased their price target for the company from $75.00 to $115.00 in a research note on Monday, February 24th. Morgan Stanley cut their price target on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. Williams Trading decreased their price objective on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Citigroup dropped their price objective on NIKE from $72.00 to $57.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Finally, China Renaissance started coverage on NIKE in a report on Wednesday, March 19th. They issued a "hold" rating for the company. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.48.

NIKE Stock Down 1.0 %

Shares of NYSE:NKE traded down $0.56 during trading hours on Tuesday, reaching $58.35. The stock had a trading volume of 13,927,237 shares, compared to its average volume of 14,709,636. The stock has a market capitalization of $86.31 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 2.52 and a beta of 1.23. The firm's 50 day moving average is $62.52 and its 200-day moving average is $71.25. NIKE has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE's quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Research analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company's stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Institutional investors have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the 4th quarter worth about $28,000. Caitlin John LLC increased its position in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Roxbury Financial LLC purchased a new position in NIKE during the fourth quarter worth approximately $30,000. LFA Lugano Financial Advisors SA boosted its holdings in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after purchasing an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of NIKE during the 4th quarter valued at $30,000. 64.25% of the stock is currently 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.