UBS Group Lowers NIKE (NYSE:NKE) Price Target to $80.00

NIKE (NYSE:NKE) had its target price decreased by research analysts at UBS Group from $82.00 to $80.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the footwear maker’s stock. UBS Group’s price target would indicate a potential upside of 3.00% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada decreased their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Bank of America decreased their price objective on NIKE from $100.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Stifel Nicolaus dropped their target price on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Guggenheim reduced their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.46.

NIKE Trading Down 1.5 %

NKE opened at $77.67 on Monday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a market cap of $116.46 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 1.93 and a beta of 1.02. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The stock has a fifty day moving average price of $79.03 and a 200-day moving average price of $81.46.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. As a group, equities research analysts anticipate that NIKE will post 2.73 earnings per share for the current fiscal year.

Institutional Trading of NIKE

A number of hedge funds have recently added to or reduced their stakes in NKE. Garrison Point Advisors LLC boosted its stake in shares of NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares in the last quarter. Stephens Consulting LLC grew its holdings in NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC increased its position in shares of NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares in the last quarter. Chapin Davis Inc. raised its stake in shares of NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after buying an additional 133 shares during the period. Finally, Meridian Financial Partners LLC lifted its position in shares of NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after buying an additional 133 shares in the last quarter. 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.