UBS AG Downgrades Nike to Hold (NKE)
Nike (NYSE:NKE) was downgraded by equities research analysts at UBS AG from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, ARN reports. The analysts noted that the move was a valuation call.
Several other analysts have also recently commented on the stock. Analysts at Telsey Advisory Group raised their price target on shares of Nike (NYSE:NKE) from $69.00 to $74.00 in a research note to investors on Friday. They now have a “not rated” rating on the stock. Separately, analysts at Sterne Agee upgraded shares of Nike (NYSE:NKE) from a “neutral” rating to a “buy” rating in a research note to investors on Friday. They now have a $85.00 price target on the stock. Finally, analysts at Stifel Nicolaus downgraded shares of Nike (NYSE:NKE) from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $35.00 price target on the stock. Thirteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $70.82.
Nike (NYSE:NKE) opened at 74.78 on Friday. 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 $66.581 billion and a P/E ratio of 25.93. Nike also was the recipient of unusually large options trading on Wednesday. Stock traders bought 10,687 call options on the stock. This is an increase of 136% compared to the average daily volume of 4,522 call options.
Nike (NYSE:NKE) last announced its earnings results on Thursday, September 26th. The company reported $0.86 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.23 earnings per share. Nike’s revenue was up 7.7% compared to the same quarter last year.
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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