Citigroup Lowers NIKE (NYSE:NKE) Price Target to $45.00

NIKE (NYSE:NKE) had its price objective reduced by equities research analysts at Citigroup from $47.00 to $45.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the footwear maker’s stock. Citigroup’s price objective would indicate a potential upside of 6.11% from the company’s current price.

Several other research firms have also recently weighed in on NKE. HSBC cut NIKE from a “buy” rating to a “hold” rating and cut their price objective for the stock from $90.00 to $48.00 in a research report on Monday, April 13th. Jefferies Financial Group dropped their target price on shares of NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday. Truist Financial reduced their price target on shares of NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. China Renaissance decreased their price target on shares of NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research report on Thursday, April 2nd. Finally, Guggenheim restated a “buy” rating and set a $60.00 price objective (down from $74.00) on shares of NIKE in a report on Wednesday. Fourteen analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.10.

NIKE Stock Performance

Shares of NYSE NKE traded up $1.36 during trading hours on Wednesday, hitting $42.41. 26,792,430 shares of the stock were exchanged, compared to its average volume of 20,745,451. NIKE has a one year low of $40.00 and a one year high of $80.17. The company’s 50 day moving average is $44.01 and its 200 day moving average is $53.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The firm has a market capitalization of $62.80 billion, a P/E ratio of 27.87, a P/E/G ratio of 1.81 and a beta of 1.12.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. On average, research analysts expect that NIKE will post 1.49 EPS for the current year.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan purchased 11,781 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The stock was purchased at an average price of $42.44 per share, with a total value of $499,985.64. Following the completion of the transaction, the director directly owned 55,074 shares of the company’s stock, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Rogers, Jr. purchased 4,000 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were acquired at an average price of $43.34 per share, with a total value of $173,360.00. Following the purchase, the director owned 41,022 shares of the company’s stock, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 64,441 shares of company stock valued at $2,734,204 over the last 90 days. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several large investors have recently made changes to their positions in NKE. VectorGlobal IAG Inc. acquired a new stake in shares of NIKE during the first quarter worth approximately $248,000. Hamilton Wealth LLC acquired a new stake in shares of NIKE in the first quarter valued at $300,000. Sapient Capital LLC grew its stake in shares of NIKE by 4.2% during the first quarter. Sapient Capital LLC now owns 8,233 shares of the footwear maker’s stock valued at $439,000 after purchasing an additional 331 shares during the last quarter. Western Wealth Management LLC boosted its position in NIKE by 98.4% in the 1st quarter. Western Wealth Management LLC now owns 33,030 shares of the footwear maker’s stock valued at $1,745,000 after buying an additional 16,383 shares during the last quarter. Finally, E Wealth Partners LLC bought a new position in NIKE in the first quarter valued at about $279,000. 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: NIKE beat Wall Street’s Q4 EPS and revenue estimates, with higher gross and operating profit helped by better margins and a tariff refund. Article Title
• Positive Sentiment: Several analysts still see upside from current levels, including BTIG’s reiterated Buy and Barclays’ Overweight rating, even after multiple price-target cuts. Article Title
• Neutral Sentiment: Management is prioritizing margin recovery, inventory discipline, and sport-led execution, which may help the medium-term turnaround but does not change the near-term sales slowdown. Article Title
• Negative Sentiment: China remains a major headwind, with sales there down about 12%, and broader demand remains weak in key regions such as Greater China and Europe. Article Title
• Negative Sentiment: NIKE lowered investor expectations with a cautious outlook, saying the turnaround is taking longer and warning that sales are still struggling, which is driving the stock lower in premarket trading. Article Title
• Negative Sentiment: Multiple brokerages cut price targets after the report, including JPMorgan, Piper Sandler, Bank of America, Barclays, and Wells Fargo, reinforcing caution around the stock. Article Title

About NIKE

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).