JPMorgan Chase & Co. Lowers NIKE (NYSE:NKE) Price Target to $73.00

NIKE (NYSE:NKE) had its price target dropped by analysts at JPMorgan Chase & Co. from $77.00 to $73.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the footwear maker’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 7.43% from the company’s previous close.

NKE has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. TD Cowen dropped their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Stifel Nicolaus reduced their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Royal Bank of Canada lowered their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised their target price on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.71.

NIKE Trading Down 0.3 %

Shares of NYSE:NKE opened at $78.86 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market capitalization of $118.24 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 1.92 and a beta of 1.02. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a 50 day moving average price of $79.87 and a 200 day moving average price of $81.84.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. On average, research analysts anticipate that NIKE will post 2.75 EPS for the current fiscal year.

Institutional Trading of NIKE

A number of hedge funds have recently bought and sold shares of NKE. Denver PWM LLC grew its holdings in shares of NIKE by 9.7% during the 3rd quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock worth $228,000 after purchasing an additional 227 shares in the last quarter. Tidal Investments LLC lifted its position in NIKE by 65.4% in the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock worth $9,332,000 after purchasing an additional 41,752 shares during the period. Soltis Investment Advisors LLC boosted its stake in NIKE by 12.2% during the third quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock worth $3,183,000 after buying an additional 3,918 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in NIKE by 8.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock valued at $23,466,000 after buying an additional 20,043 shares during the period. Finally, Toronto Dominion Bank raised its stake 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 valued at $93,315,000 after buying an additional 395,434 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

About NIKE

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.