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

NIKE (NYSE:NKE) had its price target reduced by equities researchers at Evercore ISI from $105.00 to $97.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the footwear maker’s stock. Evercore ISI’s price target would suggest a potential upside of 24.41% from the stock’s previous close.

NKE has been the topic of several other research reports. Telsey Advisory Group lowered their price target on shares of NIKE from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Monday. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. UBS Group decreased their price target on NIKE from $82.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Wells Fargo & Company dropped their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Morgan Stanley decreased their target price on NIKE from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.15.

NIKE Trading Up 1.0 %

Shares of NIKE stock opened at $77.97 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market capitalization of $116.91 billion, a PE ratio of 22.34, a P/E/G ratio of 1.93 and a beta of 1.02. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company’s fifty day simple moving average is $78.39 and its 200-day simple moving average is $80.83.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for 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. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE will post 2.73 earnings per share for the current year.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently bought and sold shares of NKE. Denver PWM LLC boosted its position in shares of NIKE by 9.7% during the third quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock valued at $228,000 after buying an additional 227 shares during the period. Tidal Investments LLC boosted its holdings in 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 acquiring an additional 41,752 shares during the period. Soltis Investment Advisors LLC grew its position in NIKE by 12.2% in the 3rd quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock valued at $3,183,000 after acquiring an additional 3,918 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in NIKE by 8.2% in the third 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 purchasing an additional 20,043 shares during the period. Finally, Toronto Dominion Bank lifted its position in shares of 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 purchasing an additional 395,434 shares during the last quarter. Hedge funds and other 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.