NIKE (NYSE:NKE) Price Target Lowered to $105.00 at Robert W. Baird

NIKE (NYSE:NKE) had its price objective lowered by equities researchers at Robert W. Baird from $110.00 to $105.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the footwear maker’s stock. Robert W. Baird’s price objective indicates a potential upside of 37.56% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group boosted their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Wells Fargo & Company lowered their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Morgan Stanley dropped their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Truist Financial reduced their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.58.

NIKE Price Performance

Shares of NKE stock traded down $0.61 on Monday, reaching $76.33. The company’s stock had a trading volume of 5,597,539 shares, compared to its average volume of 11,689,753. The company has a market capitalization of $114.45 billion, a P/E ratio of 21.87, a PEG ratio of 1.89 and a beta of 1.02. NIKE has a 12-month low of $70.75 and a 12-month high of $109.96. The stock’s 50 day simple moving average is $78.07 and its 200-day simple moving average is $80.55. 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 quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the firm posted $1.03 EPS. The company’s revenue was down 7.7% compared to the same quarter last year. As a group, equities analysts predict that NIKE will post 2.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Denver PWM LLC grew its stake in NIKE by 9.7% in the third quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock worth $228,000 after purchasing an additional 227 shares during the period. Tidal Investments LLC boosted its holdings in shares of NIKE by 65.4% during the 3rd quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock valued at $9,332,000 after buying an additional 41,752 shares in the last quarter. Soltis Investment Advisors LLC grew its position in shares of NIKE by 12.2% in the 3rd quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock worth $3,183,000 after buying an additional 3,918 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of NIKE by 8.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock worth $23,466,000 after acquiring an additional 20,043 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in NIKE by 59.9% during the third quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock worth $93,315,000 after acquiring an additional 395,434 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.