Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKEGet Free Report) had its price target decreased by investment analysts at Deutsche Bank Aktiengesellschaft from $54.00 to $51.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a “hold” rating on the footwear maker’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 15.40% from the stock’s previous close.

NKE has been the topic of a number of other reports. Barclays reduced their price objective on shares of NIKE from $73.00 to $67.00 and set an “overweight” rating on the stock in a research note on Wednesday. Berenberg Bank reissued a “neutral” rating and set a $70.00 target price on shares of NIKE in a research note on Friday, December 19th. BTIG Research dropped their target price on shares of NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company cut their price target on shares of NIKE from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Truist Financial decreased their price target on NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday. Nineteen research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $63.42.

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NIKE Price Performance

Shares of NKE opened at $44.20 on Wednesday. The business has a 50-day moving average of $58.84 and a 200-day moving average of $63.39. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.40. The company has a market capitalization of $65.43 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31. NIKE has a 1 year low of $43.17 and a 1 year high of $80.17.

NIKE (NYSE:NKEGet Free Report) last announced its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The business had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. As a group, equities research analysts anticipate that NIKE will post 2.05 earnings per share for the current year.

Hedge Funds Weigh In On NIKE

Large investors have recently modified their holdings of the company. Cornerstone Financial Management LLC bought a new stake in NIKE during the 4th quarter valued at $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in NIKE during the second quarter worth $31,000. Sankala Group LLC acquired a new position in NIKE during the fourth quarter worth $26,000. J.Safra Asset Management Corp bought a new position in shares of NIKE in the fourth quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of NIKE in the fourth quarter valued at $30,000. 64.25% of the stock is currently owned by institutional investors.

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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