Stifel Nicolaus Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its price target dropped by investment analysts at Stifel Nicolaus from $79.00 to $75.00 in a report released on Friday,Benzinga reports. The firm presently has a “hold” rating on the footwear maker’s stock. Stifel Nicolaus’ price objective indicates a potential downside of 1.30% from the stock’s current price.

A number of other brokerages have also weighed in on NKE. JPMorgan Chase & Co. lowered their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. TD Cowen dropped their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Royal Bank of Canada decreased their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley dropped their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Bank of America decreased their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $89.77.

NIKE Stock Performance

Shares of NKE traded down $1.11 during mid-day trading on Friday, reaching $75.99. The company’s stock had a trading volume of 12,824,768 shares, compared to its average volume of 11,555,604. 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 business has a 50-day simple moving average of $78.18 and a two-hundred day simple moving average of $80.77. NIKE has a 1-year low of $70.75 and a 1-year high of $123.30. The stock has a market cap of $113.94 billion, a P/E ratio of 21.77, a PEG ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. As a group, equities research analysts anticipate that NIKE will post 2.72 earnings per share for the current fiscal year.

Institutional Trading of NIKE

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ING Groep NV acquired a new stake in NIKE during the 3rd quarter valued at approximately $29,628,000. Cordatus Wealth Management LLC increased its position in shares of NIKE by 19.5% during the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after buying an additional 6,778 shares during the period. Bristlecone Advisors LLC raised its stake in NIKE by 14.3% during the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after buying an additional 11,665 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in NIKE by 62.3% in the third quarter. Coldstream Capital Management Inc. now owns 121,279 shares of the footwear maker’s stock valued at $10,347,000 after buying an additional 46,567 shares during the period. Finally, Investment Management Corp of Ontario boosted its position in NIKE by 49.4% during the third quarter. Investment Management Corp of Ontario now owns 40,238 shares of the footwear maker’s stock valued at $3,557,000 after acquiring an additional 13,300 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.