NIKE (NYSE:NKE) Stock Rating Upgraded by Wall Street Zen

NIKE (NYSE:NKE) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other research analysts also recently issued reports about the company. BNP Paribas Exane cut their price objective on NIKE from $35.00 to $23.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 1st. Truist Financial decreased their price objective on shares of NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Bank of America reaffirmed a “neutral” rating and issued a $55.00 target price (down from $73.00) on shares of NIKE in a report on Wednesday, April 1st. Telsey Advisory Group cut their target price on shares of NIKE from $65.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, April 1st. Finally, Stifel Nicolaus reduced their price target on shares of NIKE from $65.00 to $56.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. Sixteen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, NIKE presently has a consensus rating of “Hold” and an average price target of $62.04.

NIKE Trading Up 0.0%

Shares of NYSE:NKE opened at $41.88 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $62.03 billion, a PE ratio of 27.74, a P/E/G ratio of 2.22 and a beta of 1.12. NIKE has a 1 year low of $41.70 and a 1 year high of $80.17. The firm has a fifty day moving average price of $47.89 and a 200 day moving average price of $58.03.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period last year, the company earned $0.54 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. Analysts expect that NIKE will post 1.51 EPS for the current fiscal year.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 11,781 shares of the stock in a transaction on Tuesday, April 7th. The shares were purchased at an average price of $42.44 per share, with a total value of $499,985.64. Following 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy D. Cook acquired 25,000 shares of NIKE stock in a transaction dated Friday, April 10th. The shares were acquired at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the acquisition, the director directly owned 130,480 shares in the company, valued at $5,536,266.40. This trade represents a 23.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 64,441 shares of company stock valued at $2,734,204 in the last ninety days. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Scarborough Advisors LLC acquired a new position in shares of NIKE in the 1st quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in NIKE in the 4th quarter valued at $26,000. Sankala Group LLC acquired a new stake in NIKE in the 4th quarter valued at $26,000. Meeder Asset Management Inc. grew its position in NIKE by 108.4% in the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after acquiring an additional 285 shares during the period. Finally, J.Safra Asset Management Corp acquired a new position in NIKE during the fourth quarter worth $29,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

About NIKE

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).