NIKE (NYSE:NKE) Price Target Lowered to $65.00 at Telsey Advisory Group

NIKE (NYSE:NKE) had its price target cut by analysts at Telsey Advisory Group from $72.00 to $65.00 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage currently has a “market perform” rating on the footwear maker’s stock. Telsey Advisory Group’s price target points to a potential upside of 21.47% from the company’s current price.

NKE has been the subject of a number of other research reports. Truist Financial set a $69.00 price objective on NIKE in a research report on Wednesday, January 14th. Barclays upgraded NIKE from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $64.00 to $73.00 in a research report on Wednesday, March 11th. KeyCorp cut their target price on NIKE from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Sanford C. Bernstein reaffirmed a “buy” rating on shares of NIKE in a research report on Thursday, March 5th. Finally, DZ Bank reiterated a “buy” rating on shares of NIKE in a research note on Friday, December 19th. Twenty-two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

NIKE Stock Up 1.5%

NKE stock opened at $53.51 on Wednesday. NIKE has a twelve month low of $52.17 and a twelve month high of $80.17. The company has a market cap of $79.21 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 2.70 and a beta of 1.27. The business’s 50-day simple moving average is $60.92 and its 200 day simple moving average is $64.43. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50.

Insider Buying and Selling

In related news, CEO Elliott Hill purchased 16,388 shares of the stock in a transaction on Monday, December 29th. The shares were purchased at an average cost of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the transaction, the chief executive officer directly owned 241,587 shares of the company’s stock, valued at approximately $14,760,965.70. The trade was a 7.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Financial Management LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $26,000. Twin Peaks Wealth Advisors LLC bought a new position in NIKE during the 2nd quarter valued at about $31,000. Sankala Group LLC acquired a new position in NIKE in the fourth quarter valued at about $26,000. J.Safra Asset Management Corp bought a new stake in NIKE during the fourth quarter worth about $29,000. Finally, Kemnay Advisory Services Inc. bought a new stake in NIKE during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).