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A report released today by Canaccord about NIKE (NYSE:NKE) lowers the target price to $51.00

NIKE (NYSE:NKE) had its stock price target reduced to $51.00 by Canaccord in a report issued 10/13/2016. The dropped price target implies a possible downside of -0.03% based on the company's previous stock close price.

Yesterday NIKE (NYSE:NKE) traded -1.38% lower at $52.44. The company’s 50-day moving average is $55.24 and its 200-day moving average is $56.59. The last stock close price is down -8.61% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 879,376 shares of the stock were exchanged, down from an average trading volume of 8,982,750

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NIKE has a one year low of $51.48 and a one year high of $68.20 with a price-earnings ratio of 23.34 NIKE’s market capitalization is presently $0.

In addition to Canaccord reporting its target price, a total of 28 analysts have released a research note on NKE. The average stock price target is $70.52 with nine brokerages rating the company a strong buy, 15 brokers rating the stock a buy, eight firms rating the stock a hold, zero analysts rating the company a underperform, and lastly zero brokerages rating the stock a sell.

Brief Synopsis On NIKE (NYSE:NKE)

NIKE, Inc. is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company's operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse. As of May 31, 2016, the Company focused its NIKE brand product offerings in nine categories: Running, NIKE Basketball, the Jordan Brand, Football (Soccer), Men's Training, Women's Training, Action Sports, Sportswear (its sports-inspired lifestyle products) and Golf. Men's Training includes its baseball and American football product offerings. It also markets products designed for kids, as well as for other athletic and recreational uses, such as cricket, lacrosse, tennis, volleyball, wrestling, walking and outdoor activities. The Company sells a range of performance equipment and accessories under the NIKE Brand name.

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