NIKE’s (NKE) “Buy” Rating Reiterated at Sanford C. Bernstein

NIKE (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by investment analysts at Sanford C. Bernstein in a report issued on Wednesday,MarketScreener reports.

Several other equities research analysts also recently commented on NKE. Piper Sandler reiterated a “neutral” rating and set a $50.00 price objective (down from $60.00) on shares of NIKE in a research note on Friday, April 10th. Telsey Advisory Group cut their target price on NIKE from $65.00 to $55.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 1st. Guggenheim reduced their target price on NIKE from $77.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Zacks Research cut NIKE from a “hold” rating to a “strong sell” rating in a research report on Monday, June 1st. Finally, Citigroup reiterated a “neutral” rating on shares of NIKE in a research note on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Hold” and an average price target of $60.01.

NIKE Stock Down 1.5%

NKE stock opened at $41.73 on Wednesday. The firm has a 50 day moving average of $44.38 and a 200 day moving average of $54.40. The stock has a market capitalization of $61.80 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. NIKE has a 52 week low of $41.35 and a 52 week high of $80.17.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The company had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the firm earned $0.54 EPS. NIKE’s revenue was up .1% compared to the same quarter last year. Sell-side analysts forecast that NIKE will post 1.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Elliott Hill bought 23,660 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The stock was purchased at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the purchase, the chief executive officer directly owned 265,247 shares in the company, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan purchased 11,781 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were purchased at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the acquisition, the director directly owned 55,074 shares of the company’s stock, valued at $2,337,340.56. This represents a 27.21% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 64,441 shares of company stock worth $2,734,204. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Scarborough Advisors LLC acquired a new position in shares of NIKE in the first quarter worth about $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of NIKE during the 4th quarter valued at about $26,000. Sankala Group LLC acquired a new stake in shares of NIKE during the 4th quarter valued at about $26,000. Meeder Asset Management Inc. increased its stake in shares of NIKE by 108.4% in the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 285 shares in the last quarter. Finally, J.Safra Asset Management Corp purchased a new position in shares of NIKE in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Nike named David Denton as its next CFO, and investors are viewing the finance-leadership reset as a constructive step for the company’s turnaround. Article Title
• Positive Sentiment: Nike said its fiscal fourth-quarter results are still expected to be on track, which helps reduce near-term uncertainty ahead of its June 30 earnings report. Article Title
• Neutral Sentiment: Evercore downgraded Nike to hold from outperform and set a $46 price target, signaling less confidence in the near-term upside as the turnaround remains incomplete. Article Title
• Negative Sentiment: Analysts continue to flag risks tied to weak U.S. demand, Jordan brand softness, supply delays in Europe, and limited innovation, all of which may pressure Nike’s recovery story. Article Title

NIKE Company Profile

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).