NIKE (NYSE:NKE) Price Target Lowered to $80.00 at Morgan Stanley

NIKE (NYSE:NKE) had its target price cut by Morgan Stanley from $82.00 to $80.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the footwear maker’s stock. Morgan Stanley’s target price would suggest a potential upside of 2.84% from the stock’s current price.

A number of other research firms also recently issued reports on NKE. Sanford C. Bernstein cut their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Stifel Nicolaus decreased their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Piper Sandler reissued a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, 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. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $94.04.

NIKE Trading Down 0.2 %

NKE opened at $77.79 on Friday. The company has a fifty day moving average price of $78.62 and a two-hundred day moving average price of $81.31. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a market cap of $116.64 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Analysts predict that NIKE will post 2.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NKE. Denver PWM LLC raised its stake in NIKE by 9.7% in the third quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock valued at $228,000 after purchasing an additional 227 shares in the last quarter. Tidal Investments LLC raised its position in shares of NIKE by 65.4% during the 3rd quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock valued at $9,332,000 after buying an additional 41,752 shares in the last quarter. Soltis Investment Advisors LLC lifted its holdings 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 worth $3,183,000 after acquiring an additional 3,918 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in NIKE by 8.2% in the third 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 acquiring an additional 20,043 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in NIKE by 59.9% in the third quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock valued at $93,315,000 after acquiring an additional 395,434 shares during the last quarter. 64.25% of the stock is 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.