NIKE (NYSE:NKE) Given Buy Rating at BTIG Research

NIKE (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by research analysts at BTIG Research in a note issued to investors on Thursday, Benzinga reports. They presently have a $50.00 price objective on the footwear maker’s stock. BTIG Research’s target price indicates a potential upside of 33.29% from the company’s current price.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $40.00 to $33.00 and set an “underweight” rating for the company in a research report on Friday, October 2nd. UBS Group reissued a “neutral” rating and set a $34.00 target price (down from $42.00) on shares of NIKE in a research report on Friday, October 2nd. Piper Sandler set a $28.00 target price on shares of NIKE and gave the stock a “neutral” rating in a research report on Friday, October 2nd. Oppenheimer set a $52.00 target price on shares of NIKE and gave the company an “outperform” rating in a research note on Wednesday, September 23rd. Finally, Zacks Research lowered shares of NIKE from a “hold” rating to a “strong sell” rating in a report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-one have assigned a Hold rating and eleven have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $40.93.

NIKE Price Performance

Shares of NYSE NKE opened at $37.51 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.07 and a quick ratio of 1.39. NIKE has a 1-year low of $31.97 and a 1-year high of $70.44. The company has a market capitalization of $55.72 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 4.44 and a beta of 1.09. The business has a 50-day moving average of $37.25 and a 200-day moving average of $41.35.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, October 1st. The footwear maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.43 by $0.05. The business had revenue of $11.21 billion for the quarter, compared to the consensus estimate of $11.32 billion. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $0.49 EPS. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. On average, equities analysts anticipate that NIKE will post 1.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other NIKE news, EVP Philip McCartney sold 2,559 shares of NIKE stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $96,192.81. Following the sale, the executive vice president directly owned 78,121 shares in the company, valued at $2,936,568.39. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $137,992.89. Following the completion of the transaction, the chief operating officer directly owned 104,862 shares in the company, valued at approximately $3,941,762.58. The trade was a 3.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,974 shares of company stock valued at $600,126 over the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of NIKE by 6.8% in the 2nd quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock valued at $2,636,104,000 after purchasing an additional 4,052,428 shares in the last quarter. Flossbach Von Storch SE acquired a new position in NIKE in the second quarter worth about $488,714,000. Amundi increased its holdings in NIKE by 59.4% in the second quarter. Amundi now owns 6,460,398 shares of the footwear maker’s stock valued at $265,199,000 after buying an additional 2,406,609 shares during the last quarter. Van ECK Associates Corp increased its holdings in NIKE by 4.8% in the second quarter. Van ECK Associates Corp now owns 6,257,863 shares of the footwear maker’s stock valued at $256,885,000 after buying an additional 286,395 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of NIKE by 92.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,789,274 shares of the footwear maker’s stock valued at $169,540,000 after acquiring an additional 2,298,400 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Company Profile

NIKE, Inc is a global athletic footwear, apparel, equipment and accessories company headquartered near Beaverton, Oregon. The company designs, develops, markets and sells products under the Nike, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s product portfolio includes athletic and casual footwear, performance and lifestyle apparel, sports equipment, accessories and digital fitness-related offerings. The company distributes its products through company-owned retail stores, digital platforms and wholesale partners, while also operating direct-to-consumer and membership programs.

The company traces its origins to 1964, when Phil Knight and Bill Bowerman founded Blue Ribbon Sports.