Nike Lowered to “Hold” at Stifel Nicolaus (NKE)
Nike (NYSE:NKE) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $68.00 target price on the stock. Stifel Nicolaus’ price target points to a potential downside of 3.33% from the stock’s previous close.
The analysts wrote, “After-hours upside in the stock, we believe, reflects relief that NIKE appears to have transcended an otherwise choppy North American footwear environment during back to school…While we remain impressed with underlying fundamentals (constant currency futures growth in almost every region, accelerating gross margin improvement), at the current valuation, we believe external factors are limiting earnings upside potential and capacity for upside to the stock.”
Several other analysts have also recently commented on the stock. Analysts at Buckingham Research raised their price target on shares of Nike (NYSE:NKE) from $68.00 to $81.00 in a research note to investors on Thursday. Separately, analysts at Janney Montgomery Scott raised their price target on shares of Nike (NYSE:NKE) from $57.00 to $65.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Nike (NYSE:NKE) from $68.00 to $75.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Thirteen analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $71.33.
Nike (NYSE:NKE) traded up 5.39% during mid-day trading on Friday, hitting $74.13. 7,362,586 shares of the company’s stock traded hands. Nike has a 52 week low of $44.825 and a 52 week high of $70.56. The stock has a 50-day moving average of $66.0 and a 200-day moving average of $62.84. The company has a market cap of $66.002 billion and a price-to-earnings ratio of 25.93. Nike also saw some unusual options trading activity on Wednesday. Traders purchased 10,687 call options on the company. This represents an increase of approximately 136% compared to the typical daily volume of 4,522 call options.
Nike (NYSE:NKE) last released its earnings data on Thursday, September 26th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.78 by $0.08. The company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis.
NIKE, Inc (NYSE:NKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.
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