NIKE (NYSE:NKE) Given “Underperform” Rating at BNP Paribas Exane

NIKE (NYSE:NKE)‘s stock had its “underperform” rating reiterated by analysts at BNP Paribas Exane in a report issued on Tuesday,Benzinga reports. They currently have a $23.00 price objective on the footwear maker’s stock. BNP Paribas Exane’s target price points to a potential downside of 46.40% from the stock’s current price.

Several other analysts have also recently commented on the company. Barclays reduced their target price on NIKE from $73.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. JPMorgan Chase & Co. restated a “neutral” rating on shares of NIKE in a research report on Monday, April 13th. Truist Financial reduced their price objective on shares of NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. UBS Group set a $50.00 price objective on shares of NIKE and gave the stock a “neutral” rating in a research report on Wednesday, June 10th. Finally, BTIG Research dropped their target price on shares of NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. 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 company. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Hold” and a consensus target price of $60.01.

NIKE Trading Down 0.7%

Shares of NIKE stock traded down $0.28 during trading on Tuesday, hitting $42.91. The company’s stock had a trading volume of 14,583,562 shares, compared to its average volume of 19,852,213. The stock has a market cap of $63.54 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. NIKE has a 52 week low of $41.35 and a 52 week high of $80.17. The stock has a 50-day moving average price of $44.38 and a two-hundred day moving average price of $54.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45.

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. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the previous year, the business earned $0.54 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts anticipate that NIKE will post 1.49 EPS for the current fiscal year.

Insider Activity at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares in the company, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Robert Holmes Swan bought 11,781 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was bought at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the purchase, the director owned 55,074 shares of the company’s stock, valued at approximately $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently bought and sold shares of the company. Sapient Capital LLC increased its position in NIKE by 4.2% in the first quarter. Sapient Capital LLC now owns 8,233 shares of the footwear maker’s stock worth $439,000 after buying an additional 331 shares during the last quarter. Western Wealth Management LLC increased its holdings in NIKE by 98.4% in the 1st quarter. Western Wealth Management LLC now owns 33,030 shares of the footwear maker’s stock worth $1,745,000 after acquiring an additional 16,383 shares during the last quarter. E Wealth Partners LLC purchased a new stake in NIKE in the 1st quarter worth about $279,000. FAS Wealth Partners Inc. lifted its holdings in NIKE by 4.2% during the first quarter. FAS Wealth Partners Inc. now owns 6,109 shares of the footwear maker’s stock valued at $323,000 after purchasing an additional 249 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its holdings in NIKE by 43.2% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 41,295 shares of the footwear maker’s stock valued at $2,182,000 after purchasing an additional 12,464 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Some investors see the setup for Nike’s upcoming quarter as “better than feared,” with the stock discussed as a possible value opportunity ahead of earnings. Nike Q4 Preview: The Better-Than-Feared Value Opportunity
• Positive Sentiment: Nike continues to push its direct-to-consumer strategy through apps, exclusive launches, and member engagement, which could support longer-term growth if execution improves. NIKE’s DTC Strategy: Catalyst for Sustainable Growth or Margin Risk?
• Neutral Sentiment: NIKE will report fiscal fourth-quarter earnings on June 30, and analysts are preparing for lower profits, with forecasts centered on about $0.12 per share and $10.85 billion in revenue. Nike Likely To Report Lower Q4 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Neutral Sentiment: There was also a governance update, as longtime director John Rogers, Jr. plans to retire from the board after the September annual meeting but remain a strategic advisor. Does John Rogers’ Board Exit Reframe Nike’s (NKE) Turnaround and Brand Strategy Priorities?
• Negative Sentiment: CEO Elliott Hill recently said Nike’s turnaround is taking longer than expected, citing tariffs, weak demand, and global gaps that are still weighing on growth. Nike CEO Elliott Hill Admits Turnaround Is Taking Longer Than Expected
• Negative Sentiment: Evercore’s downgrade and reduced price target reinforce concerns that Nike’s recovery is slower than hoped, with near-term fundamentals still challenged. Nike (NKE) Stock Falls as Evercore Sounds Alarm on Deepening Challenges

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).