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

NIKE (NYSE:NKE) had its target price reduced by equities researchers at Barclays from $79.00 to $70.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the footwear maker’s stock. Barclays‘s price target points to a potential downside of 9.02% from the stock’s current price.

Other analysts have also issued reports about the stock. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Sanford C. Bernstein cut their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Telsey Advisory Group cut NIKE from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $93.00 to $80.00 in a report on Friday. Bank of America reduced their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday. Finally, Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.77.

NIKE Stock Down 0.2 %

NKE stock opened at $76.94 on Friday. The stock has a market cap of $115.36 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The firm’s 50-day simple moving average is $78.07 and its 200 day simple moving average is $80.55. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.30. 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 issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating 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 analysts’ expectations of $12.11 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts predict that NIKE will post 2.72 EPS for the current year.

Institutional Trading of NIKE

Large investors have recently made changes to their positions in the stock. Teachers Insurance & Annuity Association of America bought a new stake in NIKE during the third quarter worth approximately $30,000. VitalStone Financial LLC raised its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the period. Dunhill Financial LLC raised its holdings in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the period. Strategic Financial Concepts LLC acquired a new position in NIKE during the 2nd quarter worth $48,000. Finally, Ecofi Investissements SA bought a new stake in NIKE during the second quarter valued at about $49,000. Institutional investors own 64.25% of the company’s stock.

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.