NIKE (NYSE:NKE) Given New $75.00 Price Target at Evercore ISI

NIKE (NYSE:NKE - Get Free Report) had its price target reduced by analysts at Evercore ISI from $97.00 to $75.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the footwear maker's stock. Evercore ISI's target price suggests a potential upside of 23.18% from the company's previous close.

Several other equities research analysts have also commented on NKE. Barclays decreased their price target on NIKE from $60.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. BMO Capital Markets reduced their target price on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Robert W. Baird dropped their price objective on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Wells Fargo & Company raised their target price on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Finally, Stifel Nicolaus decreased their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Sixteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of "Moderate Buy" and a consensus price target of $77.93.

NIKE Trading Up 0.2%

Shares of NKE traded up $0.11 during trading on Tuesday, reaching $60.89. 5,445,057 shares of the company traded hands, compared to its average volume of 15,255,539. NIKE has a twelve month low of $52.28 and a twelve month high of $98.04. The stock has a 50-day simple moving average of $59.89 and a 200-day simple moving average of $67.82. The stock has a market cap of $90.06 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.11 and a beta of 1.21. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NKE. Stone House Investment Management LLC acquired a new position in shares of NIKE during the first quarter worth $25,000. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA lifted its holdings in shares of NIKE by 110.5% in the fourth 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 in the last quarter. Hopwood Financial Services Inc. purchased a new position in NIKE during the 4th quarter worth $30,000. Finally, Saudi Central Bank bought a new stake in NIKE in the 1st quarter worth about $30,000. 64.25% of the stock is owned by 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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