NIKE (NYSE:NKE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has raised NIKE's target price from $93.00 to $100.00, reflecting a potential upside of 35.69% from the stock's previous close.
• NIKE shares increased 5.7% on Wednesday, trading at $73.70, with significant trading volume exceeding the average.
• The company reported earnings of $0.49 per share for the last quarter, surpassing the consensus estimate of $0.27, indicating strong performance with revenues of $11.72 billion.

NIKE (NYSE:NKE - Get Free Report) had its target price lifted by research analysts at JPMorgan Chase & Co. from $93.00 to $100.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the footwear maker's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 35.69% from the stock's previous close.

A number of other equities analysts have also recently commented on NKE. Evercore ISI decreased their target price on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the company a "hold" rating in a research report on Wednesday. Zacks Research raised NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $75.00 price target on shares of NIKE in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $80.92.

NIKE Stock Up 5.7%

Shares of NYSE:NKE traded up $3.97 during trading on Wednesday, reaching $73.70. 25,206,529 shares of the stock were exchanged, compared to its average volume of 16,239,576. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE has a 1-year low of $52.28 and a 1-year high of $85.23. The firm has a market cap of $108.85 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 2.54 and a beta of 1.24. The stock has a fifty day moving average of $74.78 and a two-hundred day moving average of $67.27.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business's revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.70 EPS. Research analysts anticipate that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new stake in shares of NIKE in the 1st quarter valued at about $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of NIKE in the second quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC grew its stake in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock valued at $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of NIKE in the 1st quarter worth $30,000. Finally, Matrix Trust Co increased its position in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds 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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