NIKE (NYSE:NKE) Price Target Lowered to $74.00 at Morgan Stanley

NIKE (NYSE:NKE) had its price target reduced by equities researchers at Morgan Stanley from $80.00 to $74.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the footwear maker’s stock. Morgan Stanley’s price objective points to a potential downside of 3.82% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Stifel Nicolaus cut their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. UBS Group lowered their price target on shares of NIKE from $82.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Finally, Piper Sandler reissued a “neutral” rating and set a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Trading Down 0.2 %

NYSE NKE opened at $76.94 on Friday. The stock has a market cap of $115.36 billion, a PE ratio of 22.05, a PEG ratio of 1.89 and a beta of 1.02. NIKE has a 12 month low of $70.75 and a 12 month high of $123.30. The company’s 50-day moving average price is $78.07 and its 200-day moving average price is $80.55. 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 issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the firm earned $1.03 EPS. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities research analysts forecast that NIKE will post 2.72 earnings per share for the current year.

Institutional Investors Weigh In On NIKE

A number of large investors have recently made changes to their positions in NKE. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE during the 3rd quarter worth about $30,000. VitalStone Financial LLC raised its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Dunhill Financial LLC lifted its holdings in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. Strategic Financial Concepts LLC purchased a new stake in NIKE in the second quarter valued at approximately $48,000. Finally, Ecofi Investissements SA acquired a new position in NIKE in the 2nd quarter worth approximately $49,000. 64.25% of the stock is owned by hedge funds and other 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.