TD Cowen Cuts NIKE (NYSE:NKE) Price Target to $73.00

NIKE (NYSE:NKE) had its target price reduced by research analysts at TD Cowen from $78.00 to $73.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the footwear maker’s stock. TD Cowen’s price objective indicates a potential downside of 1.24% from the stock’s current price.

Other research analysts also recently issued reports about the company. Robert W. Baird lifted their price objective on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Stifel Nicolaus decreased their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Sanford C. Bernstein cut their target price 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. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and raised their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.30.

NIKE Stock Down 1.3 %

NKE stock opened at $73.92 on Monday. The stock has a market capitalization of $110.83 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The company has a fifty day moving average of $80.71 and a 200-day moving average of $82.90. 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 one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 earnings per share. As a group, analysts expect that NIKE will post 2.74 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NKE. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the 3rd quarter worth approximately $30,000. Transcendent Capital Group LLC grew its holdings in shares of NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC raised its position in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Dunhill Financial LLC raised its position in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its stake in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other 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.