NIKE (NYSE:NKE) Price Target Lowered to $66.00 at Needham & Company LLC

NIKE (NYSE:NKE - Get Free Report) had its price target reduced by equities researchers at Needham & Company LLC from $75.00 to $66.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the footwear maker's stock. Needham & Company LLC's price objective points to a potential upside of 9.97% from the company's previous close.

Several other equities analysts have also recently issued reports on the stock. Cfra Research raised shares of NIKE to a "moderate buy" rating in a research note on Friday, March 21st. China Renaissance started coverage on shares of NIKE in a research note on Wednesday, March 19th. They set a "hold" rating on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Wells Fargo & Company upped 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, BMO Capital Markets lowered their target price 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. Seventeen 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, NIKE currently has an average rating of "Moderate Buy" and a consensus target price of $79.41.

NIKE Stock Performance

Shares of NKE opened at $60.02 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. The stock has a market capitalization of $88.77 billion, a P/E ratio of 19.94, a P/E/G ratio of 2.14 and a beta of 1.21. The company's fifty day moving average is $59.57 and its two-hundred day moving average is $68.42. NIKE has a 1 year low of $52.28 and a 1 year high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 9.43% and a return on equity of 32.18%. NIKE's revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. On average, sell-side analysts predict that NIKE will post 2.05 earnings per share for the current year.

Insider Activity

In related news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was purchased 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 trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On NIKE

A number of large investors have recently bought and sold shares of the stock. Stone House Investment Management LLC acquired a new position in NIKE in the first quarter valued at $25,000. Heck Capital Advisors LLC purchased a new position in shares of NIKE in the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA lifted its stake 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 in the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of NIKE during the 4th quarter worth about $30,000. Finally, Saudi Central Bank acquired a new stake in NIKE during the 1st quarter worth approximately $30,000. Hedge funds and other 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.

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