NIKE (NYSE:NKE – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities researchers at BTIG Research in a research report issued on Thursday, MarketBeat.com reports. They currently have a $50.00 price objective on the footwear maker’s stock. BTIG Research‘s price target would indicate a potential upside of 30.44% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Argus raised shares of NIKE to a “strong-buy” rating in a report on Wednesday, July 15th. The Goldman Sachs Group restated a “neutral” rating and set a $30.00 price target (down from $38.00) on shares of NIKE in a research report on Friday, October 2nd. CICC Research dropped their price objective on shares of NIKE from $58.00 to $44.80 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Morgan Stanley set a $27.00 price target on shares of NIKE and gave the stock an “underweight” rating in a research note on Friday, October 2nd. Finally, Piper Sandler set a $28.00 target price on shares of NIKE and gave the company a “neutral” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-one have given a Hold rating and eleven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $40.93.
Read Our Latest Stock Analysis on NIKE
NIKE Stock Up 2.1%
NIKE stock traded up $0.80 during midday trading on Thursday, reaching $38.33. The stock had a trading volume of 16,954,375 shares, compared to its average volume of 24,720,318. NIKE has a 1-year low of $31.97 and a 1-year high of $70.44. 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 firm’s fifty day simple moving average is $37.25 and its 200-day simple moving average is $41.35. The stock has a market capitalization of $56.94 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 4.44 and a beta of 1.09.
NIKE (NYSE:NKE – Get Free Report) last released its quarterly earnings results on Thursday, October 1st. The footwear maker reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.05. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The business had revenue of $11.21 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the previous year, the company posted $0.49 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, analysts expect that NIKE will post 1.22 EPS for the current fiscal year.
Insider Buying and Selling at NIKE
In other news, insider Amy Montagne sold 4,867 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $42.05, for a total value of $204,657.35. Following the sale, the insider owned 57,436 shares in the company, valued at $2,415,183.80. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Friend sold 2,463 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $102,460.80. Following the transaction, the chief financial officer directly owned 82,165 shares in the company, valued at $3,418,064. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,974 shares of company stock valued at $600,126 over the last quarter. Insiders own 1.10% of the company’s stock.
Hedge Funds Weigh In On NIKE
Several institutional investors and hedge funds have recently made changes to their positions in the business. Monetary Solutions Ltd lifted its position in NIKE by 6,250.0% in the 3rd quarter. Monetary Solutions Ltd now owns 1,016 shares of the footwear maker’s stock valued at $36,000 after purchasing an additional 1,000 shares during the last quarter. Brookstone Capital Management raised its holdings in shares of NIKE by 2.1% during the 3rd quarter. Brookstone Capital Management now owns 21,732 shares of the footwear maker’s stock valued at $769,000 after purchasing an additional 453 shares in the last quarter. NBT Bank N.A. bought a new position in shares of NIKE in the third quarter valued at approximately $570,000. Root Financial Partners LLC bought a new position in shares of NIKE in the third quarter worth about $123,000. Finally, SBI Securities Co. Ltd. increased its position in NIKE by 8.4% during the third quarter. SBI Securities Co. Ltd. now owns 50,388 shares of the footwear maker’s stock worth $1,784,000 after acquiring an additional 3,916 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
Trending Headlines about 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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