TD Cowen Lowers NIKE (NYSE:NKE) Price Target to $73.00

NIKE (NYSE:NKE - Get Free Report) had its price target decreased by equities research analysts at TD Cowen from $78.00 to $73.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the footwear maker's stock. TD Cowen's price target points to a potential downside of 2.52% from the company's previous close.

NKE has been the topic of a number of other reports. Robert W. Baird lifted their price objective on NIKE from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, September 20th. Williams Trading raised NIKE from a "sell" rating to a "buy" rating and lifted their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Sanford C. Bernstein lowered their price objective on shares of NIKE from $112.00 to $109.00 and set an "outperform" rating for the company in a research report on Thursday, September 19th. Piper Sandler reissued a "neutral" rating and set a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.30.

NIKE Stock Performance

NKE stock traded down $1.77 during trading on Monday, reaching $74.89. 12,586,874 shares of the stock were exchanged, compared to its average volume of 11,493,966. The stock has a 50 day simple moving average of $80.89 and a 200-day simple moving average of $83.15. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a market capitalization of $112.29 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business's revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 earnings per share. As a group, sell-side analysts anticipate that NIKE will post 2.74 earnings per share for the current year.

Institutional Investors Weigh In On NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the company. Loomis Sayles & Co. L P raised its holdings in shares of NIKE by 1,209,638.7% in 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 purchasing an additional 6,507,856 shares during the last quarter. Longview Partners Guernsey LTD bought a new stake in NIKE during the 1st quarter worth about $533,533,000. Capital World Investors boosted its stake in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker's stock worth $487,327,000 after buying an additional 4,457,376 shares during the last quarter. State Street Corp boosted its stake in shares of 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 buying an additional 1,862,021 shares during the last quarter. Finally, Holocene Advisors LP acquired a new stake in shares of NIKE in the third quarter valued at about $148,635,000. Institutional investors and hedge funds 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.