NIKE’s (NKE) “Buy” Rating Reaffirmed at BTIG Research

NIKE (NYSE:NKE)‘s stock had its “buy” rating reissued by research analysts at BTIG Research in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $50.00 price objective on the footwear maker’s stock. BTIG Research‘s target price indicates a potential upside of 32.51% from the stock’s previous close.

A number of other brokerages have also commented on NKE. Deutsche Bank reissued a “hold” rating and issued a $33.00 price target on shares of NIKE in a report on Friday, October 9th. Wells Fargo & Company set a $30.00 price objective on NIKE and gave the company an “equal weight” rating in a research report on Friday, October 2nd. Evercore decreased their price objective on NIKE from $46.00 to $28.00 in a report on Monday, September 28th. Zacks Research downgraded NIKE from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 1st. Finally, Cantor Fitzgerald started coverage on NIKE in a research note on Tuesday. They issued a “neutral” rating and a $38.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-one have given a Hold rating and twelve have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $40.83.

NIKE Price Performance

Shares of NYSE NKE opened at $37.73 on Thursday. The stock’s 50-day simple moving average is $36.90 and its two-hundred day simple moving average is $45.10. NIKE has a twelve month low of $31.97 and a twelve month high of $69.14. The firm has a market capitalization of $56.04 billion, a P/E ratio of 18.14, a P/E/G ratio of 4.39 and a beta of 1.01. The company has a quick ratio of 1.39, a current ratio of 2.07 and a debt-to-equity ratio of 0.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, October 1st. The footwear maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.05. The company had revenue of $11.21 billion for the quarter, compared to analysts’ expectations of $11.32 billion. NIKE had a net margin of 6.74% and a return on equity of 15.94%. NIKE’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, equities analysts anticipate that NIKE will post 1.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Venkatesh Alagirisamy sold 3,671 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total transaction of $137,992.89. Following the completion of the sale, the chief operating officer directly owned 104,862 shares in the company, valued at $3,941,762.58. This represents a 3.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip McCartney sold 2,559 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $96,192.81. Following the completion of the sale, the executive vice president directly owned 78,121 shares in the company, valued at approximately $2,936,568.39. This trade represents a 3.17% 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. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Candriam S.C.A. raised its stake in NIKE by 509.4% in the third quarter. Candriam S.C.A. now owns 725,483 shares of the footwear maker’s stock worth $25,776,000 after buying an additional 606,441 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in NIKE by 32.8% in the second quarter. OneDigital Investment Advisors LLC now owns 244,296 shares of the footwear maker’s stock worth $10,028,000 after buying an additional 60,375 shares during the period. Douglas Lane & Associates LLC boosted its position in NIKE by 57.7% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,521,611 shares of the footwear maker’s stock valued at $53,865,000 after acquiring an additional 556,798 shares in the last quarter. B.A. Schrock Wealth Management Inc. bought a new stake in NIKE during the 3rd quarter valued at approximately $1,153,000. Finally, Quantitative Investment Management LLC bought a new stake in NIKE during the 2nd quarter valued at approximately $2,459,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

NIKE, Inc. designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for sports and fitness, as well as lifestyle products. Its portfolio includes the Nike and Jordan brands, and it owns Converse, which sells casual footwear, apparel and accessories. The company sells products worldwide through wholesale partners and its own retail stores and digital platforms. Its offerings serve customers across a range of sports and activities, including running, basketball, soccer and training.