NIKE (NYSE:NKE) Downgraded by CICC Research to “Market Perform”

NIKE (NYSE:NKE) was downgraded by CICC Research from an “outperform” rating to a “market perform” rating in a research report issued on Monday,MarketScreener reports. They presently have a $58.00 price objective on the footwear maker’s stock, down from their previous price objective of $69.00. CICC Research’s target price suggests a potential upside of 31.37% from the company’s previous close.

A number of other analysts have also recently commented on NKE. Stifel Nicolaus dropped their price target on shares of NIKE from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Telsey Advisory Group dropped their target price on NIKE from $65.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, April 1st. China Renaissance reduced 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. Citigroup decreased their price target on shares of NIKE from $65.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Finally, Wells Fargo & Company lowered their price objective on shares of NIKE from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Nineteen research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.25.

NIKE Stock Performance

NYSE NKE opened at $44.15 on Monday. The stock has a market cap of $65.36 billion, a PE ratio of 29.26, a PEG ratio of 2.34 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.14. The firm’s fifty day moving average price is $58.43 and its two-hundred day moving average price is $63.06. NIKE has a fifty-two week low of $43.17 and a fifty-two week high of $80.17.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts expect that NIKE will post 2.05 EPS for the current fiscal year.

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently modified their holdings of NKE. Main Street Financial Solutions LLC raised its stake in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after buying an additional 139 shares in the last quarter. St. Clair Advisors LLC grew its holdings in shares of NIKE by 0.9% during the 3rd quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock worth $1,061,000 after acquiring an additional 140 shares during the period. Spirepoint Private Client LLC raised its position in shares of NIKE by 0.4% in the 3rd quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker’s stock worth $2,520,000 after acquiring an additional 153 shares in the last quarter. Diligent Investors LLC raised its position in shares of NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock worth $237,000 after acquiring an additional 153 shares in the last quarter. Finally, CVA Family Office LLC boosted its position in shares of NIKE by 8.0% during the third quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker’s stock valued at $147,000 after purchasing an additional 156 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Motley Fool flags a potential long‑term “green shoot” technical/valuation signal that long‑term investors may find constructive while shares trade near their 52‑week low. Near Its 52-Week Low, Nike Is Flashing a Signal Long-Term Investors Shouldn’t Ignore
• Positive Sentiment: DZ Bank reiterated a Buy rating on NKE, which provides some analyst support beneath the recent weakness. NIKE’s (NKE) “Buy” Rating Reiterated at DZ Bank
• Neutral Sentiment: Coverage and commentary: Jim Cramer says he’s rooting for Nike but is unsure of the best tactical move, reflecting mixed sentiment among media and retail investors. Jim Cramer doesn’t know what Nike (NKE) should do even though he’s rooting for the firm
• Neutral Sentiment: Analysis piece on changing customer mix after the latest quarter provides context on causes of the miss and where management needs to fix strategy — useful for medium/long‑term positioning. Nike’s latest quarter shows customers have changed
• Negative Sentiment: Regulatory/legal risk: Johnson Fistel has opened an investigation into whether Nike’s executives violated securities laws, adding potential legal overhang for shareholders. Nike, Inc. Shareholders Are Encouraged to Reach Out to Johnson Fistel for More Information About Potentially Recovering Their Losses
• Negative Sentiment: Earnings and guidance shock: the company’s fiscal Q3 and guidance update prompted roughly a ~15% tumble in recent sessions as investors reacted to weaker results and forward visibility. Buy the Dip or Bail? One Investor Weighs In on Nike Stock (NKE)
• Negative Sentiment: Analyst pressure: firms cut or trimmed targets/ratings (DA Davidson cut to Neutral; China Renaissance cut its price target to $50.30), increasing downside risk until results/guidance stabilize. NIKE (NYSE:NKE) Cut to “Neutral” at DA Davidson China Renaissance Cuts NIKE (NYSE:NKE) Price Target to $50.30

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).