NIKE, Inc. (NYSE:NKE) Stock Now Rated “Reduce” by Sell-Side Analysts

Shares of NIKE, Inc. (NYSE:NKE) have been given a consensus rating of “Reduce” by the forty-one analysts that are presently covering the company, MarketBeat reports. Twelve investment analysts have rated the stock with a sell recommendation, twenty-one have issued a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $40.83.

Several brokerages have recently issued reports on NKE. Robert W. Baird dropped their target price on shares of NIKE from $44.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Weiss Ratings lowered NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, October 6th. Wolfe Research assumed coverage on NIKE in a research note on Wednesday, October 21st. They issued an “underperform” rating and a $28.00 price target for the company. BTIG Research reiterated a “buy” rating and issued a $50.00 price objective on shares of NIKE in a report on Thursday. Finally, Deutsche Bank restated a “hold” rating and set a $33.00 target price on shares of NIKE in a research note on Friday, October 9th.

More NIKE News

Here’s some of the latest news about NKE:

• Positive Sentiment: BTIG Research reaffirmed its “Buy” rating and set a $50 price target, about 31.8% above the cited $37.94 share price. The target signals confidence in potential recovery, though it is an analyst opinion rather than a company forecast. Read the report
• Neutral Sentiment: Trefis published an article focused on NIKE’s “biggest opportunity,” but the supplied information does not describe the opportunity or its potential financial impact. Read the article
• Negative Sentiment: Recent coverage says NIKE shares are down nearly 40% year to date amid sluggish demand, weakness in China and margin pressure. These concerns could limit the scope for a rebound unless operating trends improve. Read the article

Insider Buying and Selling

In related news, COO Venkatesh Alagirisamy sold 3,671 shares of the stock in a transaction that occurred on 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 transaction, 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 business’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 $96,192.81. Following the completion of the sale, the executive vice president owned 78,121 shares in the company, valued at approximately $2,936,568.39. This trade represents a 3.17% decrease in their ownership of the stock. 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 own 1.10% of the company’s stock.

Institutional Trading of NIKE

A number of large investors have recently modified their holdings of NKE. FAS Wealth Partners Inc. boosted its position in NIKE by 4.2% during the first quarter. FAS Wealth Partners Inc. now owns 6,109 shares of the footwear maker’s stock worth $323,000 after purchasing an additional 249 shares during the period. Elevation Wealth Partners LLC raised its position in shares of NIKE by 34.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 989 shares of the footwear maker’s stock valued at $41,000 after buying an additional 254 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in shares of NIKE by 15.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 2,019 shares of the footwear maker’s stock worth $71,000 after buying an additional 269 shares in the last quarter. Westside Investment Management Inc. boosted its stake in shares of NIKE by 8.4% in the 3rd quarter. Westside Investment Management Inc. now owns 3,484 shares of the footwear maker’s stock valued at $123,000 after purchasing an additional 270 shares in the last quarter. Finally, Elmwood Wealth Management Inc. raised its position in NIKE by 2.7% in the second quarter. Elmwood Wealth Management Inc. now owns 10,666 shares of the footwear maker’s stock valued at $438,000 after purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.5%

NYSE:NKE traded up $0.18 during midday trading on Friday, reaching $37.94. 12,177,696 shares of the stock traded hands, compared to its average volume of 22,455,494. The stock has a market capitalization of $56.35 billion, a P/E ratio of 18.24, a PEG ratio of 4.33 and a beta of 1.01. NIKE has a 12 month low of $31.97 and a 12 month high of $69.14. 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 company has a fifty day moving average of $36.88 and a 200 day moving average of $44.97.

NIKE (NYSE:NKE) last posted its 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 firm had revenue of $11.21 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. On average, research analysts predict that NIKE will post 1.24 EPS for the current year.

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.