Robert W. Baird Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its price objective lowered by Robert W. Baird from $110.00 to $105.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the footwear maker’s stock. Robert W. Baird’s price target suggests a potential upside of 36.74% from the company’s previous close.

NKE has been the subject of a number of other research reports. Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Fifteen equities research 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 stock has a consensus rating of “Moderate Buy” and an average price target of $89.58.

NIKE Stock Performance

Shares of NYSE:NKE opened at $76.79 on Monday. NIKE has a 12-month low of $70.75 and a 12-month high of $109.96. The company’s 50 day moving average price is $77.98 and its two-hundred day moving average price is $80.32. The firm has a market cap of $115.14 billion, a PE ratio of 22.00, a PEG ratio of 1.89 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 issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. Equities research analysts predict that NIKE will post 2.72 earnings per share for the current year.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently modified their holdings of the stock. Loomis Sayles & Co. L P boosted its position in shares of NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after buying an additional 6,507,856 shares during the last quarter. State Street Corp boosted its holdings in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of NIKE in the 3rd quarter worth $148,635,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of NIKE in the third quarter valued at about $144,927,000. Finally, Renaissance Technologies LLC lifted its position in shares of NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.