Stifel Nicolaus Cuts NIKE (NYSE:NKE) Price Target to $75.00

NIKE (NYSE:NKE) had its target price reduced by equities research analysts at Stifel Nicolaus from $79.00 to $75.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the footwear maker’s stock. Stifel Nicolaus’ target price suggests a potential downside of 1.30% from the stock’s current price.

NKE has been the topic of a number of other reports. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Robert W. Baird increased their target price on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Sanford C. Bernstein decreased their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $93.00 to $80.00 in a research note on Friday. Finally, TD Cowen decreased their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

NIKE Trading Down 1.4 %

Shares of NKE stock traded down $1.11 during trading hours on Friday, hitting $75.99. 12,824,768 shares of the company were exchanged, compared to its average volume of 11,555,604. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.30. The company has a 50 day simple moving average of $78.18 and a two-hundred day simple moving average of $80.77. The firm has a market cap of $113.94 billion, a P/E ratio of 21.77, a P/E/G ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the company posted $1.03 earnings per share. The business’s quarterly revenue was down 7.7% on a year-over-year basis. Equities analysts anticipate that NIKE will post 2.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Denver PWM LLC grew its stake in NIKE by 9.7% in the 3rd quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock valued at $228,000 after buying an additional 227 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of NIKE by 65.4% in the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock worth $9,332,000 after acquiring an additional 41,752 shares during the period. Soltis Investment Advisors LLC grew its position in shares of NIKE by 12.2% in the third quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock valued at $3,183,000 after purchasing an additional 3,918 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of NIKE by 8.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock valued at $23,466,000 after purchasing an additional 20,043 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in NIKE by 59.9% during the 3rd quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock worth $93,315,000 after purchasing an additional 395,434 shares in the last quarter. 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.