NIKE (NYSE:NKE) Price Target Cut to $125.00

NIKE (NYSE:NKEGet Free Report) had its price objective decreased by analysts at Robert W. Baird from $140.00 to $125.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the footwear maker’s stock. Robert W. Baird’s price objective points to a potential upside of 33.18% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $139.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, December 22nd. Bank of America reduced their price objective on shares of NIKE from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Williams Trading restated a “sell” rating and issued a $85.00 price objective (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Evercore ISI reduced their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Stifel Nicolaus reduced their price objective on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average target price of $117.29.

Get Our Latest Stock Analysis on NKE

NIKE Price Performance

Shares of NKE opened at $93.86 on Friday. NIKE has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The company has a market capitalization of $142.85 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 1.95 and a beta of 1.10. The firm has a 50-day simple moving average of $102.06 and a 200-day simple moving average of $103.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 2.74.

NIKE (NYSE:NKEGet Free Report) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.54%. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. On average, equities research analysts anticipate that NIKE will post 3.54 earnings per share for the current year.

Hedge Funds Weigh In On NIKE

A number of hedge funds have recently made changes to their positions in the stock. BCK Partners Inc. acquired a new position in shares of NIKE during the 1st quarter valued at $2,839,000. Loomis Sayles & Co. L P raised its stake in shares of NIKE by 138.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock valued at $1,511,000 after purchasing an additional 6,518 shares in the last quarter. Merit Financial Group LLC raised its stake in NIKE by 13.3% during the first quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock worth $214,000 after acquiring an additional 186 shares during the period. Bridgewater Associates LP acquired a new stake in shares of NIKE in the first quarter valued at approximately $278,000. Finally, Federated Hermes Inc. boosted its holdings in shares of NIKE by 9.8% in the first quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock valued at $58,392,000 after acquiring an additional 38,903 shares in the last quarter. Institutional investors and hedge funds own 63.42% of the company’s stock.

NIKE Company Profile

(Get Free Report)

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.

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Analyst Recommendations for NIKE (NYSE:NKE)

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