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

NIKE (NYSE:NKE) had its price target reduced by equities researchers at Barclays from $79.00 to $70.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the footwear maker’s stock. Barclays‘s price objective indicates a potential downside of 9.21% from the company’s previous close.

Several other analysts have also recently commented on NKE. Royal Bank of Canada decreased their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. cut their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Bank of America lowered their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company reduced their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.46.

NIKE Price Performance

Shares of NKE stock opened at $77.10 on Friday. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The firm has a market capitalization of $115.60 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.89 and a beta of 1.02. The stock’s 50-day simple moving average is $78.18 and its 200-day simple moving average is $80.77.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities analysts forecast that NIKE will post 2.72 earnings per share for the current fiscal year.

Institutional Trading of NIKE

Hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the third quarter valued at about $30,000. VitalStone Financial LLC increased its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Dunhill Financial LLC raised its stake in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares during the period. Strategic Financial Concepts LLC acquired a new position in NIKE during the second quarter worth $48,000. Finally, Ecofi Investissements SA purchased a new stake in NIKE during the second quarter worth about $49,000. 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.