Deutsche Bank Aktiengesellschaft Lowers NIKE (NYSE:NKE) Price Target to $51.00

NIKE (NYSE:NKEGet Free Report) had its target price lowered by analysts at Deutsche Bank Aktiengesellschaft from $54.00 to $51.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has a “hold” rating on the footwear maker’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 13.62% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating on shares of NIKE in a research report on Wednesday, December 17th. Piper Sandler cut their price objective on shares of NIKE from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. restated a “neutral” rating and set a $52.00 target price on shares of NIKE in a report on Wednesday. Sanford C. Bernstein reaffirmed a “buy” rating on shares of NIKE in a research report on Wednesday. Finally, BNP Paribas Exane lowered their price target on shares of NIKE from $35.00 to $23.00 and set an “underperform” rating on the stock in a research note on Wednesday. Nineteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $64.57.

Read Our Latest Report on NIKE

NIKE Stock Down 15.0%

NKE stock traded down $7.94 during trading hours on Wednesday, reaching $44.89. 87,936,225 shares of the stock were exchanged, compared to its average volume of 17,079,348. The firm’s 50-day moving average is $59.68 and its 200-day moving average is $63.66. NIKE has a 12 month low of $44.67 and a 12 month high of $80.17. The company has a market cap of $66.45 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 2.69 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40.

NIKE (NYSE:NKEGet Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.NIKE’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. On average, equities research analysts expect that NIKE will post 2.05 earnings per share for the current year.

Institutional Investors Weigh In On NIKE

A number of large investors have recently added to or reduced their stakes in the business. Purpose Unlimited Inc. acquired a new stake in NIKE during the 4th quarter valued at $57,000. Cornerstone Planning LLC bought a new position in shares of NIKE in the fourth quarter valued at about $1,431,000. Bank of New Hampshire raised its position in shares of NIKE by 3,257.1% in the fourth quarter. Bank of New Hampshire now owns 1,175 shares of the footwear maker’s stock valued at $75,000 after purchasing an additional 1,140 shares during the period. World Investment Advisors raised its position in shares of NIKE by 1.2% in the fourth quarter. World Investment Advisors now owns 54,578 shares of the footwear maker’s stock valued at $3,477,000 after purchasing an additional 644 shares during the period. Finally, ARP Global Capital Ltd acquired a new stake in shares of NIKE during the 4th quarter worth about $4,715,000. Institutional investors own 64.25% of the company’s stock.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

NIKE Company Profile

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Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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Analyst Recommendations for NIKE (NYSE:NKE)

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