NIKE (NYSE:NKE – Get Free Report)‘s stock had its “buy” rating restated by BTIG Research in a research report issued on Thursday, Marketbeat.com reports. They currently have a $50.00 price target on the footwear maker’s stock. BTIG Research‘s price target would suggest a potential upside of 30.33% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. Raymond James Financial restated a “market perform” rating on shares of NIKE in a report on Tuesday, September 29th. Barclays reaffirmed an “overweight” rating and issued a $45.00 price target (up from $37.00) on shares of NIKE in a research report on Thursday. China Renaissance cut their price target on NIKE from $50.30 to $47.30 and set a “hold” rating for the company in a research note on Thursday, July 2nd. Wells Fargo & Company set a $30.00 price objective on NIKE and gave the stock an “equal weight” rating in a research note 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 equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-one have given a Hold rating and eleven have issued a Sell rating to the company. According to MarketBeat.com, NIKE has a consensus rating of “Reduce” and a consensus price target of $40.93.
View Our Latest Report on NIKE
NIKE Trading Up 2.2%
NKE stock traded up $0.84 during mid-day trading on Thursday, reaching $38.37. The company’s stock had a trading volume of 16,053,221 shares, compared to its average volume of 24,712,088. The business’s 50 day moving average price is $37.25 and its 200 day moving average price is $41.35. NIKE has a 12 month low of $31.97 and a 12 month high of $70.44. The company has a current ratio of 2.07, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The company has a market cap of $56.98 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 4.44 and a beta of 1.09.
NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings results on Thursday, October 1st. The footwear maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.05. The business had revenue of $11.21 billion for the quarter, compared to analyst estimates of $11.32 billion. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. On average, equities research analysts predict that NIKE will post 1.22 EPS for the current year.
Insiders Place Their Bets
In other news, COO Venkatesh Alagirisamy sold 3,671 shares of NIKE stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $137,992.89. Following the sale, the chief operating officer directly owned 104,862 shares in the company, valued at $3,941,762.58. The trade was a 3.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip McCartney sold 2,559 shares of NIKE stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $96,192.81. Following the sale, the executive vice president owned 78,121 shares in the company, valued at $2,936,568.39. The trade was 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. Over the last 90 days, insiders have sold 14,974 shares of company stock valued at $600,126. 1.10% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FAS Wealth Partners Inc. boosted its stake in NIKE by 4.2% in the first quarter. FAS Wealth Partners Inc. now owns 6,109 shares of the footwear maker’s stock valued at $323,000 after acquiring an additional 249 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in NIKE by 34.6% in the second quarter. Elevation Wealth Partners LLC now owns 989 shares of the footwear maker’s stock valued at $41,000 after acquiring an additional 254 shares during the last quarter. Midwest Professional Planners LTD. boosted its stake in NIKE by 1.5% in the first quarter. Midwest Professional Planners LTD. now owns 17,904 shares of the footwear maker’s stock valued at $946,000 after acquiring an additional 266 shares during the last quarter. Advance Capital Management Inc. boosted its stake in NIKE by 7.1% in the first quarter. Advance Capital Management Inc. now owns 4,203 shares of the footwear maker’s stock valued at $222,000 after acquiring an additional 279 shares during the last quarter. Finally, Elmwood Wealth Management Inc. lifted its position in shares of NIKE by 2.7% during the 2nd quarter. Elmwood Wealth Management Inc. now owns 10,666 shares of the footwear maker’s stock valued at $438,000 after buying an additional 279 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
Key Headlines Impacting NIKE
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: BTIG Research reaffirmed its “buy” rating and set a $50 price target, implying substantial upside from recent levels. Argus Research also initiated or reiterated a “buy” view, providing additional analyst support. Nike Gets a Buy From Argus Research
- Positive Sentiment: Nike’s valuation remains below the broader market, at roughly 18 times earnings versus approximately 23 times for the S&P 500. This discount could attract value-oriented investors if management demonstrates progress on its recovery plan. How Has Nike’s Story Changed Since Last Year?
- Neutral Sentiment: Analysts are issuing forecasts ahead of Nike’s second-quarter results, making the upcoming report and outlook important near-term catalysts for the stock. Analysts Issue Forecasts for Nike’s Q2 Earnings
- Neutral Sentiment: Recent coverage highlights Nike’s efforts to rebuild wholesale relationships and reset its product portfolio. The strategy could improve growth, but investors are waiting for clearer evidence that the comeback is working. Nike’s Brand Reset and Wholesale Relationships
- Negative Sentiment: Bearish commentary points to stagnant sales, disappointing results and the absence of a confirmed turnaround, keeping pressure on the shares despite the recent rebound. Bear of the Day: Nike
- Negative Sentiment: Restructuring and layoffs may weigh on near-term performance and signal that Nike’s portfolio reset remains difficult to execute. Investors are also questioning whether the roughly 4.4% forward dividend yield adequately compensates for turnaround risk and limited recent growth. Nike Restructuring and Layoffs
NIKE Company Profile
NIKE, Inc is a global athletic footwear, apparel, equipment and accessories company headquartered near Beaverton, Oregon. The company designs, develops, markets and sells products under the Nike, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.
NIKE’s product portfolio includes athletic and casual footwear, performance and lifestyle apparel, sports equipment, accessories and digital fitness-related offerings. The company distributes its products through company-owned retail stores, digital platforms and wholesale partners, while also operating direct-to-consumer and membership programs.
The company traces its origins to 1964, when Phil Knight and Bill Bowerman founded Blue Ribbon Sports.
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