NIKE (NYSE:NKE) Price Target Lowered to $79.00 at Barclays

NIKE (NYSE:NKE) had its target price dropped by investment analysts at Barclays from $81.00 to $79.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the footwear maker’s stock. Barclays‘s target price suggests a potential upside of 0.38% from the stock’s current price.

NKE has been the topic of several other research reports. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and lifted their target price for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Sanford C. Bernstein lowered their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Jefferies Financial Group lifted their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Morgan Stanley lifted their price target on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Stifel Nicolaus lowered their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $95.39.

NIKE Stock Up 2.6 %

Shares of NKE traded up $1.96 on Wednesday, reaching $78.70. The company’s stock had a trading volume of 5,247,817 shares, compared to its average volume of 11,478,468. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $118.00 billion, a PE ratio of 22.55, a PEG ratio of 1.90 and a beta of 1.02. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39. The firm has a fifty day moving average of $78.79 and a 200-day moving average of $81.35.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the firm earned $0.94 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. Equities analysts predict that NIKE will post 2.73 EPS for the current year.

Hedge Funds Weigh In On NIKE

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Great Valley Advisor Group Inc. boosted its position in shares of NIKE by 3.2% during the second quarter. Great Valley Advisor Group Inc. now owns 10,877 shares of the footwear maker’s stock valued at $820,000 after purchasing an additional 339 shares in the last quarter. Lorne Steinberg Wealth Management Inc. boosted its position in shares of NIKE by 80.3% during the second quarter. Lorne Steinberg Wealth Management Inc. now owns 35,840 shares of the footwear maker’s stock valued at $2,701,000 after purchasing an additional 15,957 shares in the last quarter. Valley National Advisers Inc. boosted its position in shares of NIKE by 1,419.4% during the second quarter. Valley National Advisers Inc. now owns 34,536 shares of the footwear maker’s stock valued at $2,602,000 after purchasing an additional 32,263 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of NIKE by 5.0% during the second quarter. Assenagon Asset Management S.A. now owns 885,179 shares of the footwear maker’s stock valued at $66,716,000 after purchasing an additional 41,806 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in shares of NIKE during the second quarter valued at approximately $44,000. 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.