NIKE’s (NKE) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of NIKE (NYSE:NKE) in a research report sent to investors on Thursday,Benzinga reports. BTIG Research currently has a $50.00 price target on the footwear maker’s stock.

Other equities analysts have also recently issued research reports about the stock. Berenberg Bank set a $27.50 price target on shares of NIKE and gave the company a “sell” rating in a research report on Tuesday, October 6th. Wolfe Research initiated coverage on NIKE in a research report on Wednesday, October 21st. They set an “underperform” rating and a $28.00 price objective on the stock. Zacks Research cut NIKE from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 1st. Morgan Stanley set a $27.00 target price on NIKE and gave the company an “underweight” rating in a report on Friday, October 2nd. Finally, BNP Paribas Exane set a $19.00 target price on NIKE and gave the company an “underperform” rating in a report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have issued a Hold rating and twelve have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Reduce” and an average target price of $40.83.

NIKE Stock Up 0.5%

Shares of NKE traded up $0.18 during mid-day trading on Thursday, hitting $37.94. 12,177,696 shares of the company’s stock were exchanged, compared to its average volume of 22,455,494. The company has a market cap of $56.35 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 4.33 and a beta of 1.01. NIKE has a fifty-two week low of $31.97 and a fifty-two week high of $69.14. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 2.07. The stock’s 50-day moving average is $36.88 and its 200-day moving average is $44.97.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, October 1st. The footwear maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.43 by $0.05. NIKE had a net margin of 6.74% and a return on equity of 15.94%. The business had revenue of $11.21 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same quarter last year, the firm posted $0.49 earnings per share. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. On average, sell-side analysts anticipate that NIKE will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Venkatesh Alagirisamy sold 3,671 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total transaction of $137,992.89. Following the completion of the sale, the chief operating officer owned 104,862 shares in the company, valued at approximately $3,941,762.58. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip McCartney sold 2,559 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 $96,192.81. Following the sale, the executive vice president directly owned 78,121 shares of the company’s stock, valued at approximately $2,936,568.39. This represents a 3.17% 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. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Candriam S.C.A. boosted its stake in shares of NIKE by 509.4% during the third quarter. Candriam S.C.A. now owns 725,483 shares of the footwear maker’s stock valued at $25,776,000 after acquiring an additional 606,441 shares during the last quarter. OneDigital Investment Advisors LLC lifted its holdings in NIKE by 32.8% in the 2nd quarter. OneDigital Investment Advisors LLC now owns 244,296 shares of the footwear maker’s stock valued at $10,028,000 after purchasing an additional 60,375 shares in the last quarter. Douglas Lane & Associates LLC boosted its stake in shares of NIKE by 57.7% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,521,611 shares of the footwear maker’s stock worth $53,865,000 after purchasing an additional 556,798 shares during the last quarter. B.A. Schrock Wealth Management Inc. acquired a new stake in shares of NIKE during the 3rd quarter worth about $1,153,000. Finally, Quantitative Investment Management LLC purchased a new stake in shares of NIKE during the second quarter worth about $2,459,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Top NIKE Stories

Here are a few of the latest stories about NKE:

• Positive Sentiment: BTIG Research reaffirmed its “Buy” rating and set a $50 price target, about 31.8% above the cited $37.94 share price. The target signals confidence in potential recovery, though it is an analyst opinion rather than a company forecast. Read the report
• Neutral Sentiment: Trefis published an article focused on NIKE’s “biggest opportunity,” but the supplied information does not describe the opportunity or its potential financial impact. Read the article
• Negative Sentiment: Recent coverage says NIKE shares are down nearly 40% year to date amid sluggish demand, weakness in China and margin pressure. These concerns could limit the scope for a rebound unless operating trends improve. Read the article

About NIKE

NIKE, Inc. designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for sports and fitness, as well as lifestyle products. Its portfolio includes the Nike and Jordan brands, and it owns Converse, which sells casual footwear, apparel and accessories. The company sells products worldwide through wholesale partners and its own retail stores and digital platforms. Its offerings serve customers across a range of sports and activities, including running, basketball, soccer and training.