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

NIKE (NYSE:NKE) had its target price dropped by research analysts at TD Cowen from $78.00 to $73.00 in a report released on Monday,Benzinga reports. The firm currently has a “hold” rating on the footwear maker’s stock. TD Cowen’s target price points to a potential downside of 1.24% from the company’s previous close.

NKE has been the topic of several other research reports. Royal Bank of Canada lowered their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Evercore ISI lowered their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and upped their target price for the company from $67.00 to $93.00 in a report on Friday, August 16th. JPMorgan Chase & Co. dropped their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group raised their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.30.

NIKE Price Performance

NYSE:NKE opened at $73.92 on Monday. The company’s 50-day moving average price is $80.71 and its two-hundred day moving average price is $82.90. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The firm has a market cap 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 quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue was down 10.4% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share. On average, equities analysts anticipate that NIKE will post 2.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NKE. ING Groep NV acquired a new position in shares of NIKE in the 3rd quarter valued at $29,628,000. Cordatus Wealth Management LLC boosted its stake in NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after acquiring an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC boosted its stake in NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after acquiring an additional 11,665 shares in the last quarter. WoodTrust Financial Corp grew its holdings in shares of NIKE by 19.9% during the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock worth $8,689,000 after purchasing an additional 16,303 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. increased its position in shares of NIKE by 44.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after purchasing an additional 60,008 shares in the last quarter. 64.25% of the stock is 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.