Robert W. Baird Lowers NIKE (NYSE:NKE) Price Target to $105.00

NIKE (NYSE:NKE) had its price objective dropped by Robert W. Baird from $110.00 to $105.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the footwear maker’s stock. Robert W. Baird’s price objective indicates a potential upside of 37.56% from the stock’s current price.

NKE has been the subject of several other reports. Royal Bank of Canada decreased their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. UBS Group dropped their price target on NIKE from $80.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday. Sanford C. Bernstein reduced their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Barclays decreased their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Evercore ISI reduced their price objective 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. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $89.58.

NIKE Trading Down 0.8 %

Shares of NKE stock traded down $0.61 during mid-day trading on Monday, hitting $76.33. The company’s stock had a trading volume of 5,597,539 shares, compared to its average volume of 11,689,753. NIKE has a 52 week low of $70.75 and a 52 week high of $109.96. 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 company’s fifty day simple moving average is $78.07 and its 200-day simple moving average is $80.55. The company has a market cap of $114.45 billion, a PE ratio of 21.87, a P/E/G ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 earnings per share. As a group, equities research analysts expect that NIKE will post 2.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE in the third quarter worth $30,000. VitalStone Financial LLC boosted its stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC boosted its stake in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. Riverview Trust Co purchased a new position in NIKE during the 3rd quarter valued at about $52,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of NIKE during the third quarter valued at about $54,000. 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.