Deutsche Bank Aktiengesellschaft Cuts NIKE (NYSE:NKE) Price Target to $71.00

NIKE (NYSE:NKE - Get Free Report) had its target price lowered by research analysts at Deutsche Bank Aktiengesellschaft from $77.00 to $71.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the footwear maker's stock. Deutsche Bank Aktiengesellschaft's price objective indicates a potential upside of 19.23% from the stock's current price.

Several other research firms have also recently commented on NKE. Barclays lowered their target price on shares of NIKE from $60.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Berenberg Bank initiated coverage on NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 target price on the stock. Morgan Stanley reduced their price target on shares of NIKE from $70.00 to $61.00 and set an "equal weight" rating for the company in a research report on Tuesday. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Finally, UBS Group decreased their target price on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, NIKE has a consensus rating of "Moderate Buy" and an average price target of $78.74.

NIKE Stock Performance

Shares of NIKE stock traded up $0.04 on Friday, reaching $59.55. 4,286,794 shares of the company were exchanged, compared to its average volume of 15,211,268. The firm has a market cap of $88.08 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 2.10 and a beta of 1.21. The company's 50-day moving average is $59.67 and its two-hundred day moving average is $68.23. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. NIKE has a 1-year low of $52.28 and a 1-year high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a net margin of 9.43% and a return on equity of 32.18%. NIKE's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. As a group, research analysts expect that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently made changes to their positions in NKE. Elgethun Capital Management boosted its position in NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after buying an additional 149 shares in the last quarter. AlTi Global Inc. raised its stake in shares of NIKE by 0.4% in the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after acquiring an additional 150 shares during the last quarter. Waterfront Wealth Inc. boosted its holdings in shares of NIKE by 1.4% in the 4th quarter. Waterfront Wealth Inc. now owns 10,757 shares of the footwear maker's stock worth $814,000 after acquiring an additional 153 shares in the last quarter. Staley Capital Advisers Inc. grew its position in NIKE by 4.4% during the 4th quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker's stock worth $286,000 after acquiring an additional 160 shares during the last quarter. Finally, Cohen & Steers Inc. grew its position in NIKE by 5.3% during the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after acquiring an additional 160 shares during the last quarter. 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.

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