NIKE (NYSE:NKE) Price Target Raised to $80.00 at Piper Sandler

NIKE (NYSE:NKE - Get Free Report) had its price objective hoisted by Piper Sandler from $70.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the footwear maker's stock. Piper Sandler's target price suggests a potential upside of 8.29% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the company. Barclays boosted their price objective on NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Royal Bank Of Canada lowered their target price on NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a report on Tuesday, May 20th. China Renaissance initiated coverage on NIKE in a research report on Wednesday, March 19th. They set a "hold" rating on the stock. Finally, Cfra Research upgraded NIKE to a "moderate buy" rating in a report on Friday, March 21st. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $79.00.

NIKE Price Performance

Shares of NYSE NKE traded up $11.33 during mid-day trading on Friday, reaching $73.87. The company's stock had a trading volume of 60,769,342 shares, compared to its average volume of 15,634,144. The stock has a fifty day moving average of $60.31 and a two-hundred day moving average of $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. NIKE has a 52 week low of $52.28 and a 52 week high of $94.74. The firm has a market capitalization of $109.27 billion, a PE ratio of 24.55, a P/E/G ratio of 2.23 and a beta of 1.21.

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

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On NIKE

A number of hedge funds have recently made changes to their positions in the stock. Heck Capital Advisors LLC acquired a new position in NIKE in the fourth quarter valued at $28,000. Stone House Investment Management LLC acquired a new position in NIKE in the first quarter worth $25,000. LFA Lugano Financial Advisors SA increased its stake in NIKE by 110.5% during 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 during the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of NIKE during the fourth quarter worth $30,000. Finally, EnRich Financial Partners LLC lifted its position in shares of NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after buying an additional 273 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.