Evercore ISI Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its target price decreased by research analysts at Evercore ISI from $105.00 to $97.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the footwear maker’s stock. Evercore ISI’s target price points to a potential upside of 25.92% from the company’s previous close.

A number of other research firms also recently commented on NKE. UBS Group dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Telsey Advisory Group dropped their price objective on NIKE from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Monday. Royal Bank of Canada dropped their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Sanford C. Bernstein decreased their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Finally, Guggenheim reduced their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $93.15.

NIKE Stock Performance

Shares of NKE opened at $77.03 on Monday. The stock has a 50-day simple moving average of $78.52 and a 200-day simple moving average of $81.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39. The stock has a market capitalization of $115.50 billion, a PE ratio of 22.09, a PEG ratio of 1.93 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 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 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. On average, analysts predict that NIKE will post 2.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIKE

A number of hedge funds have recently added to or reduced their stakes in NKE. Denver PWM LLC grew 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 worth $228,000 after acquiring an additional 227 shares during the last quarter. Tidal Investments LLC increased its stake in shares of NIKE by 65.4% in the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock valued at $9,332,000 after purchasing an additional 41,752 shares during the period. Soltis Investment Advisors LLC raised its holdings in shares of NIKE by 12.2% during the third quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock valued at $3,183,000 after buying an additional 3,918 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of NIKE by 8.2% during 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 buying an additional 20,043 shares during the period. Finally, Toronto Dominion Bank boosted 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 buying an additional 395,434 shares during the period. Institutional investors and hedge funds 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.