NIKE (NYSE:NKE) Stock Keeps Buy Rating at BTIG Research

NIKE (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a research note issued on Wednesday, Marketbeat reports. They presently have a $55.00 target price on the footwear maker’s stock. BTIG Research’s price target would suggest a potential upside of 53.39% from the company’s previous close.

Several other brokerages have also recently weighed in on NKE. The Goldman Sachs Group decreased their price objective on NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Argus upgraded NIKE to a “strong-buy” rating in a report on Wednesday, July 15th. Evercore set a $46.00 price target on NIKE and gave the stock an “in-line” rating in a report on Tuesday, June 23rd. Truist Financial set a $42.00 price target on NIKE and gave the stock a “hold” rating in a report on Wednesday, August 26th. Finally, Robert W. Baird set a $44.00 price target on NIKE and gave the stock a “neutral” rating in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty-one have issued a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of “Hold” and a consensus target price of $46.62.

NIKE Stock Down 1.5%

Shares of NYSE NKE traded down $0.53 during mid-day trading on Wednesday, hitting $35.86. The company had a trading volume of 28,878,331 shares, compared to its average volume of 22,947,322. The company has a market capitalization of $53.19 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10. The firm has a 50-day simple moving average of $39.44 and a two-hundred day simple moving average of $43.34. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. NIKE has a one year low of $35.22 and a one year high of $76.97.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.09. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.NIKE’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. On average, equities analysts expect that NIKE will post 1.66 EPS for the current year.

Insiders Place Their Bets

In related news, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $42.05, for a total transaction of $204,657.35. Following the completion of the transaction, the insider owned 57,436 shares in the company, valued at approximately $2,415,183.80. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $137,992.89. Following the sale, the chief operating officer owned 104,862 shares of the company’s stock, valued at approximately $3,941,762.58. This represents a 3.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 14,974 shares of company stock worth $600,126. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently made changes to their positions in NKE. QRG Capital Management Inc. boosted its holdings in shares of NIKE by 8.5% during the second quarter. QRG Capital Management Inc. now owns 106,883 shares of the footwear maker’s stock worth $4,388,000 after acquiring an additional 8,338 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of NIKE by 214.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 32,596 shares of the footwear maker’s stock worth $1,338,000 after acquiring an additional 22,215 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of NIKE by 98.4% during the second quarter. Envestnet Asset Management Inc. now owns 2,202,581 shares of the footwear maker’s stock worth $90,416,000 after acquiring an additional 1,092,282 shares during the period. State Street Corp boosted its holdings in shares of NIKE by 6.8% during the second quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock worth $2,636,104,000 after acquiring an additional 4,052,428 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of NIKE by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 640,889 shares of the footwear maker’s stock worth $26,308,000 after acquiring an additional 11,884 shares during the period. Institutional investors own 64.25% of the company’s stock.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Jefferies remains optimistic that Nike can beat first-quarter expectations, citing stabilizing North American and wholesale trends, healthier inventories and potential gross-margin improvement. The firm also sees November’s investor day as a possible catalyst for the recovery. Nike set for Q1 beat as margins improve, Jefferies says
• Positive Sentiment: New footwear launches and Nike’s “Sport Offense” strategy are intended to rebuild product momentum and reduce reliance on discounting. Some long-term investors argue the stock’s depressed valuation already reflects significant execution risks. Will New Footwear Launches Help Nike Rebuild Sportswear Momentum?
• Neutral Sentiment: Nike will report fiscal Q1 results after the market closes Thursday. The report, guidance and management’s comments on China, wholesale demand, margins and inventory will likely determine whether the stock’s extended decline begins to reverse. Options positioning suggests some traders are expecting a rebound, but implied volatility indicates elevated event risk. Will Nike Stock Rebound on Q1 Earnings?
• Neutral Sentiment: The appointment of Alexandre Arnault, an LVMH executive, to Nike’s board adds luxury-brand and European consumer-market experience, but investors will likely focus more on near-term operating results and the turnaround plan. Nike Brings Alexandre Arnault Onto Its Board
• Negative Sentiment: Analysts are lowering expectations ahead of earnings. RBC reduced its target to $40 with a “sector perform” rating, while Evercore cut its target to $34; Piper Sandler also moved to neutral. The revisions reflect concerns that recovery will be slower and more promotional than previously expected.
• Negative Sentiment: China remains a major weakness, with soft demand and increased discounting undermining Nike’s premium positioning. The company is overhauling its China strategy to rebuild brand appeal, but the turnaround may take time. Nike Overhauls Its China Strategy

About NIKE

NIKE, Inc is a global sportswear company that designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and related services. Its products are marketed under the NIKE, Jordan and Converse brands and are used across a broad range of sports and lifestyle activities, including running, basketball, football, training and outdoor pursuits.

The company distributes its products through a combination of wholesale partners, NIKE-owned retail stores and digital platforms.