NIKE (NYSE:NKE) Price Target Lowered to $93.00 at Telsey Advisory Group

NIKE (NYSE:NKE) had its target price decreased by equities researchers at Telsey Advisory Group from $96.00 to $93.00 in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm presently has an “outperform” rating on the footwear maker’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 20.39% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Piper Sandler restated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Evercore ISI cut their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Guggenheim decreased their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.93.

NIKE Stock Down 0.9 %

NKE stock opened at $77.25 on Monday. The stock has a market capitalization of $115.83 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02. The company has a 50-day moving average of $78.52 and a two-hundred day moving average of $81.06. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 EPS. As a group, equities research analysts anticipate that NIKE will post 2.73 EPS for the current year.

Hedge Funds Weigh In On NIKE

Institutional investors have recently modified their holdings of the stock. SeaCrest Wealth Management LLC increased its stake in NIKE by 12.7% in the second quarter. SeaCrest Wealth Management LLC now owns 2,767 shares of the footwear maker’s stock valued at $209,000 after purchasing an additional 311 shares in the last quarter. Summit Global Investments raised its stake in NIKE by 291.0% during the 2nd quarter. Summit Global Investments now owns 18,217 shares of the footwear maker’s stock worth $1,373,000 after buying an additional 13,558 shares during the period. Aaron Wealth Advisors LLC grew its stake in NIKE by 42.6% in the second quarter. Aaron Wealth Advisors LLC now owns 6,071 shares of the footwear maker’s stock valued at $458,000 after acquiring an additional 1,814 shares during the period. Atria Wealth Solutions Inc. increased its holdings in shares of NIKE by 3.5% in the second quarter. Atria Wealth Solutions Inc. now owns 47,057 shares of the footwear maker’s stock worth $3,561,000 after acquiring an additional 1,589 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of NIKE during the second quarter worth about $46,000. 64.25% of the stock is currently 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.