Wells Fargo & Company Lowers NIKE (NYSE:NKE) Price Target to $92.00

NIKE (NYSE:NKE) had its price target lowered by investment analysts at Wells Fargo & Company from $95.00 to $92.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the footwear maker’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 19.43% from the company’s current price.

Several other research firms have also commented on NKE. Barclays lowered their price target on shares of NIKE from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Morgan Stanley decreased their price target on shares of NIKE from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday. Sanford C. Bernstein lowered their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Needham & Company LLC assumed coverage on NIKE in a research report on Friday, November 22nd. They issued a “buy” rating and a $84.00 price objective for the company. Finally, Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.15.

NIKE Price Performance

Shares of NYSE:NKE opened at $77.03 on Monday. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a 50-day moving average price of $78.52 and a 200 day moving average price of $81.06. The company has a market cap of $115.50 billion, a P/E ratio of 22.09, a PEG ratio of 1.93 and a beta of 1.02. 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 released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the company earned $0.94 earnings per share. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. Research analysts predict that NIKE will post 2.73 earnings per share for the current year.

Institutional Investors Weigh In On NIKE

Several large investors have recently modified their holdings of NKE. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE in the 3rd quarter valued at $30,000. VitalStone Financial LLC lifted its stake in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Dunhill Financial LLC boosted its holdings in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares during the period. MFA Wealth Advisors LLC purchased a new position in shares of NIKE in the second quarter worth approximately $46,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of NIKE during the second quarter valued at approximately $48,000. 64.25% of the stock is owned by institutional investors.

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.