NIKE (NYSE:NKE) Receives “Neutral” Rating from Royal Bank Of Canada

NIKE (NYSE:NKE)‘s stock had its “neutral” rating reissued by investment analysts at Royal Bank Of Canada in a report issued on Tuesday.

Other research analysts have also issued research reports about the company. Truist Financial set a $42.00 target price on NIKE and gave the company a “hold” rating in a report on Wednesday, August 26th. Telsey Advisory Group set a $44.00 price target on NIKE and gave the company a “market perform” rating in a report on Tuesday, September 15th. Evercore set a $46.00 price objective on NIKE and gave the stock an “in-line” rating in a report on Tuesday, June 23rd. Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. Finally, Piper Sandler lowered their price objective on shares of NIKE from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty-two have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.41.

NIKE Trading Down 0.3%

Shares of NIKE stock opened at $35.95 on Tuesday. The stock’s 50-day simple moving average is $39.91 and its 200 day simple moving average is $43.78. NIKE has a 52-week low of $35.35 and a 52-week high of $76.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The stock has a market capitalization of $53.33 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.84 and a beta of 1.10.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter in the prior year, the business posted $0.14 earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, research analysts anticipate that NIKE will post 1.67 EPS for the current year.

Insider Transactions at NIKE

In other news, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.05, for a total value 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. The trade was a 7.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Philip McCartney sold 2,559 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total transaction of $96,192.81. Following the completion of the sale, the executive vice president directly owned 78,121 shares in the company, valued at approximately $2,936,568.39. This represents a 3.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,974 shares of company stock valued at $600,126 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. increased its stake in NIKE by 8.5% in the 2nd quarter. QRG Capital Management Inc. now owns 106,883 shares of the footwear maker’s stock worth $4,388,000 after buying an additional 8,338 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in NIKE by 214.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 32,596 shares of the footwear maker’s stock valued at $1,338,000 after buying an additional 22,215 shares during the period. Envestnet Asset Management Inc. grew its stake in NIKE by 98.4% in the 2nd 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 in the last quarter. State Street Corp grew its stake in NIKE by 6.8% in the 2nd 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 in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position 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. 64.25% of the stock is currently owned by institutional investors.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Turnaround support from a major retailer: JD Sports’ finance chief said Nike is taking the right steps and that a turnaround is ultimately a matter of time. This offers some reassurance that Nike’s brand remains strong among wholesale partners. Reuters article
• Positive Sentiment: Some analysts see substantial upside: BTIG reaffirmed its buy rating and assigned a $55 price target, implying significant appreciation from the current share price. Benchmark also upgraded Nike to hold, reducing the risk of further outright downgrades. Analyst and retail partner coverage
• Neutral Sentiment: Investors are awaiting earnings: Nike reports fiscal first-quarter results after the close on October 1. The report is expected to clarify whether improving gross margins and momentum in performance footwear can offset weakness in the lifestyle category. Benzinga earnings preview
• Negative Sentiment: Cautious earnings expectations: Analysts expect lower first-quarter revenue and earnings, while recent forecast changes include multiple price-target reductions. Barclays cut its target to $48, and Stifel reduced its target to $40, reflecting concerns about demand and the pace of recovery. Yahoo Finance earnings coverage
• Negative Sentiment: Competitive and brand risks: Kylian Mbappé ended his long-standing relationship with Nike and signed with On Holding, highlighting intensifying competition for high-profile athletes and football visibility. Insider Monkey article

NIKE Company Profile

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

NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.