UBS Group Cuts NIKE (NYSE:NKE) Price Target to $73.00

NIKE (NYSE:NKE) had its target price lowered by stock analysts at UBS Group from $80.00 to $73.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the footwear maker’s stock. UBS Group’s price target indicates a potential downside of 3.93% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Barclays lowered their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday. Morgan Stanley lowered their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday. Wells Fargo & Company reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 target price on shares of NIKE in a report on Friday. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Stock Performance

Shares of NKE stock traded down $1.11 during trading hours on Friday, reaching $75.99. The company had a trading volume of 12,824,768 shares, compared to its average volume of 11,555,604. 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 business has a fifty day moving average price of $78.18 and a 200-day moving average price of $80.77. NIKE has a one year low of $70.75 and a one year high of $123.30. The firm has a market cap of $113.94 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. Sell-side analysts predict 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 bought and sold shares of the business. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the third quarter valued at approximately $30,000. VitalStone Financial LLC lifted its position in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Dunhill Financial LLC boosted its stake in NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in NIKE during the 2nd quarter worth $48,000. Finally, Ecofi Investissements SA acquired a new position in shares of NIKE during the second quarter valued at about $49,000. 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.