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Canaccord reported on NIKE (NYSE:NKE), lowering its target price to $52.00 today

Canaccord dropped the target of NIKE (NYSE:NKE) to $52.00 reporting a possible downside of -0.06%.

Only yesterday NIKE (NYSE:NKE) traded -0.07% lower at $55.41. NKE’s 50-day average is $56.84 and its 200-day moving average is $57.45. With the last close down -3.62% from the 200-day moving average, compared with the S&P 500 Index which has decreased -0.01% over the same period. Trade Volume was down over the average, with 4,262,524 shares of NKE changing hands under the typical 9,316,670

Performance Chart

NIKE (NYSE:NKE)

With a total market value of $0, NIKE has price-earnings ratio of 25.63 with a 52 week low of $51.48 and a 52 week high of $68.19 .

In addition to Canaccord reporting its target price, a total of 28 equity analysts have released a research note on the stock. The consensus target price is $70.52 with 9 analysts rating the company a strong buy, fifteen brokerages rating the company a buy, eight equity analysts rating the company a hold, 0 brokers rating the stock a underperform, and finally zero brokerages rating the company a sell.

Brief Synopsis About 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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