UBS Group Issues Pessimistic Forecast for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its price target lowered by research analysts at UBS Group from $82.00 to $80.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the footwear maker’s stock. UBS Group’s target price suggests a potential upside of 4.22% from the stock’s current price.

A number of other brokerages have also weighed in on NKE. Needham & Company LLC started coverage on NIKE in a research note on Friday, November 22nd. They set a “buy” rating and a $84.00 price objective for the company. Evercore ISI decreased their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Piper Sandler reiterated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. TD Cowen decreased their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Finally, Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.46.

NIKE Price Performance

Shares of NYSE NKE opened at $76.76 on Monday. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The business has a 50 day moving average price of $79.03 and a two-hundred day moving average price of $81.46. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market cap of $115.09 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $11.64 billion. During the same quarter last year, the firm earned $0.94 EPS. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. Sell-side analysts expect that NIKE will post 2.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE in the third quarter worth approximately $30,000. VitalStone Financial LLC increased its holdings in shares of NIKE by 52.6% in 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 in the last quarter. Triad Wealth Partners LLC bought a new position in shares of NIKE in the second quarter valued at $44,000. Dunhill Financial LLC increased its holdings in shares of NIKE by 52.2% in 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 in the last quarter. Finally, MFA Wealth Advisors LLC bought a new position in shares of NIKE in the second quarter valued at $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.