Robert W. Baird Issues Positive Forecast for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE - Get Free Report) had its target price raised by analysts at Robert W. Baird from $80.00 to $88.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the footwear maker's stock. Robert W. Baird's target price points to a potential upside of 23.01% from the company's previous close.

Several other equities analysts have also recently issued reports on NKE. Williams Trading cut their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Bank of America increased their price objective on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday. Royal Bank Of Canada cut their price target on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. BMO Capital Markets lowered their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Finally, Berenberg Bank assumed coverage on NIKE in a research report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 target price on the stock. Fifteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, NIKE has an average rating of "Moderate Buy" and an average price target of $77.70.

NIKE Stock Performance

Shares of NKE traded up $9.00 during mid-day trading on Friday, reaching $71.54. The company had a trading volume of 35,807,991 shares, compared to its average volume of 15,536,094. NIKE has a 52-week low of $52.28 and a 52-week high of $94.74. The stock has a market capitalization of $105.82 billion, a P/E ratio of 23.88, a PEG ratio of 2.23 and a beta of 1.21. The stock has a 50 day moving average of $60.31 and a two-hundred day moving average of $67.63. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. On average, analysts expect that NIKE will post 2.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On NIKE

Institutional investors have recently modified their holdings of the business. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of NIKE during the first quarter worth $2,645,000. Swedbank AB raised its stake in NIKE by 2.8% in the first quarter. Swedbank AB now owns 953,011 shares of the footwear maker's stock valued at $60,497,000 after buying an additional 26,026 shares during the period. Voya Investment Management LLC lifted its holdings in NIKE by 1.8% during the 1st quarter. Voya Investment Management LLC now owns 1,453,473 shares of the footwear maker's stock valued at $92,266,000 after purchasing an additional 25,481 shares during the last quarter. BROOKFIELD Corp ON lifted its stake in shares of NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock worth $41,808,000 after buying an additional 175,000 shares during the last quarter. Finally, eCIO Inc. acquired a new stake in NIKE during the 1st quarter worth approximately $52,000. 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.

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