Morgan Stanley Lowers NIKE (NYSE:NKE) Price Target to $61.00

NIKE (NYSE:NKE - Get Free Report) had its target price decreased by equities researchers at Morgan Stanley from $70.00 to $61.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the footwear maker's stock. Morgan Stanley's price objective indicates a potential downside of 0.16% from the company's previous close.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. dropped their price target on NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Robert W. Baird lowered their target price on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Telsey Advisory Group restated a "market perform" rating and set a $70.00 price target on shares of NIKE in a research report on Tuesday. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Finally, Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.93.

NIKE Stock Down 1.3%

Shares of NKE traded down $0.80 during trading hours on Tuesday, reaching $61.10. 3,850,610 shares of the stock traded hands, compared to its average volume of 16,917,668. NIKE has a 52 week low of $52.28 and a 52 week high of $98.04. The company has a market cap of $90.37 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.52 and a beta of 1.21. The stock has a fifty day simple moving average of $59.56 and a 200 day simple moving average of $68.48. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the business posted $0.98 EPS. The company's revenue for the quarter was down 9.1% on a year-over-year basis. On average, equities analysts forecast that NIKE will post 2.05 EPS for the current year.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On NIKE

A number of institutional investors and hedge funds have recently bought and sold shares of NKE. Stone House Investment Management LLC purchased a new position in shares of NIKE during the 1st quarter valued at about $25,000. Heck Capital Advisors LLC purchased a new stake in NIKE during the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA grew its holdings in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after acquiring an additional 210 shares during the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of NIKE in the fourth quarter valued at about $30,000. Finally, Saudi Central Bank bought a new position in shares of NIKE during the first quarter valued at about $30,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

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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