NIKE (NYSE:NKE) Price Target Lowered to $74.00 at Morgan Stanley

NIKE (NYSE:NKE) had its price target dropped by equities research analysts at Morgan Stanley from $80.00 to $74.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the footwear maker’s stock. Morgan Stanley’s price target points to a potential downside of 4.02% from the company’s current price.

Other research analysts also recently issued research reports about the company. UBS Group cut their price target on NIKE from $82.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Guggenheim reduced their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Robert W. Baird upped their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.81.

NIKE Stock Up 0.3 %

NIKE stock opened at $77.10 on Friday. The stock has a market capitalization of $115.60 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.89 and a beta of 1.02. The business has a fifty day moving average price of $78.18 and a 200-day moving average price of $80.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.03 EPS. Equities research analysts forecast that NIKE will post 2.72 EPS for the current fiscal year.

Institutional Investors Weigh In On NIKE

Hedge funds have recently made changes to their positions in the business. Denver PWM LLC grew its position in NIKE by 9.7% during the third 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 during the period. Tidal Investments LLC boosted its stake in NIKE by 65.4% in the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock valued at $9,332,000 after acquiring an additional 41,752 shares during the last quarter. Soltis Investment Advisors LLC grew its position in shares of NIKE by 12.2% during the 3rd quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock valued at $3,183,000 after acquiring an additional 3,918 shares during the period. Teachers Retirement System of The State of Kentucky increased 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 worth $23,466,000 after purchasing an additional 20,043 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of NIKE by 59.9% in 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 during the period. 64.25% of the stock is currently owned by institutional investors.

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.