Robert W. Baird Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its price target lowered by equities researchers at Robert W. Baird from $110.00 to $105.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the footwear maker’s stock. Robert W. Baird’s price objective points to a potential upside of 36.74% from the company’s current price.

Several other equities research analysts have also weighed in on the stock. Sanford C. Bernstein cut their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Truist Financial reduced their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Bank of America lowered their price target on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. TD Cowen cut their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Finally, Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. 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, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.58.

NIKE Stock Performance

NKE stock opened at $76.79 on Monday. NIKE has a twelve month low of $70.75 and a twelve month high of $109.96. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market cap of $115.14 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The business’s fifty day moving average is $77.98 and its 200-day moving average is $80.32.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share 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 quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Equities research analysts forecast that NIKE will post 2.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Loomis Sayles & Co. L P grew its holdings in NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares during the period. State Street Corp increased its holdings 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 acquiring an additional 1,862,021 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of NIKE during the 3rd quarter worth approximately $148,635,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in NIKE in the 3rd quarter valued at $144,927,000. Finally, Renaissance Technologies LLC lifted its holdings in NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares during the last quarter. 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.