NIKE (NYSE:NKE) Stock Keeps “Buy” Rating at BTIG Research

BTIG Research reiterated their buy rating on shares of NIKE (NYSE:NKE) in a research note published on Thursday morning,Benzinga reports. BTIG Research currently has a $50.00 target price on the footwear maker’s stock.

NKE has been the topic of several other research reports. Wolfe Research initiated coverage on shares of NIKE in a report on Wednesday, October 21st. They issued an “underperform” rating and a $28.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $40.00 to $33.00 and set an “underweight” rating for the company in a research report on Friday, October 2nd. UBS Group reissued a “neutral” rating on shares of NIKE in a report on Thursday, October 22nd. Cantor Fitzgerald initiated coverage on shares of NIKE in a research report on Tuesday. They issued a “neutral” rating and a $38.00 price objective on the stock. Finally, Telsey Advisory Group set a $35.00 price objective on shares of NIKE and gave the company a “market perform” rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-one have assigned a Hold rating and twelve have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $40.83.

NIKE Trading Down 1.5%

Shares of NKE stock opened at $37.73 on Thursday. The stock has a market capitalization of $56.04 billion, a PE ratio of 18.14, a P/E/G ratio of 4.39 and a beta of 1.01. NIKE has a 1-year low of $31.97 and a 1-year high of $69.14. The business has a 50-day moving average of $36.90 and a 200 day moving average of $45.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.07 and a quick ratio of 1.39.

NIKE (NYSE:NKE) last posted 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. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The business had revenue of $11.21 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period last year, the company earned $0.49 EPS. NIKE’s revenue for the quarter was down 4.3% compared to the same quarter last year. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, sell-side analysts anticipate that NIKE will post 1.24 earnings per share for the current year.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Philip McCartney sold 2,559 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 value of $96,192.81. Following the completion of the transaction, the executive vice president directly owned 78,121 shares in the company, valued at approximately $2,936,568.39. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was 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 of the company’s stock, valued at approximately $3,941,762.58. This represents a 3.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

Large investors have recently bought and sold shares of the company. Scarborough Advisors LLC bought a new position in shares of NIKE in the 1st quarter worth approximately $25,000. Reyes Financial Architecture Inc. purchased a new stake in NIKE in the third quarter worth $26,000. Meeder Asset Management Inc. grew its stake in NIKE by 108.4% in the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 285 shares during the period. Atlas Wealth LLC purchased a new stake in NIKE in the first quarter worth $31,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in NIKE in the second quarter worth $33,000. 64.25% of the stock is owned by institutional investors.

NIKE Company Profile

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.