NIKE (NYSE:NKE) Stock Rated “Neutral” in New Coverage at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of NIKE (NYSE:NKE) in a research note published on Tuesday, Marketbeat reports. The brokerage issued a neutral rating and a $38.00 price target on the footwear maker’s stock.

Several other research firms have also recently weighed in on NKE. Oppenheimer set a $52.00 price objective on shares of NIKE and gave the stock an “outperform” rating in a research report on Wednesday, September 23rd. Rothschild & Co Redburn lowered their target price on shares of NIKE from $45.00 to $37.00 and set a “sell” rating for the company in a research note on Friday, July 17th. Williams Trading lowered shares of NIKE from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Truist Financial cut shares of NIKE from a “hold” rating to a “sell” rating and set a $29.00 price target on the stock. in a research report on Thursday, November 5th. Finally, JPMorgan Chase & Co. cut their price target on shares of NIKE from $40.00 to $33.00 and set an “underweight” rating on the stock in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-one have given a Hold rating and twelve have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $40.83.

NIKE Stock Performance

Shares of NKE stock opened at $37.73 on Tuesday. The stock has a market capitalization of $56.04 billion, a PE ratio of 24.56, a PEG ratio of 4.39 and a beta of 1.01. The business’s 50 day simple moving average is $36.90 and its 200 day simple moving average is $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 has a one year low of $31.97 and a one year high of $69.14.

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

Insider Buying and Selling

In other news, EVP Philip McCartney sold 2,559 shares of NIKE 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 sale, the executive vice president owned 78,121 shares in the company, valued at $2,936,568.39. The trade was a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the business’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 transaction, the chief operating officer owned 104,862 shares in the company, valued at $3,941,762.58. The trade was a 3.38% decrease in their position. 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 Investors Weigh In On NIKE

A number of large investors have recently bought and sold shares of NKE. N.F.U. MUTUAL UNIT MANAGERS Ltd acquired a new stake in shares of NIKE in the 3rd quarter valued at about $457,000. Disciplined Investors L.L.C. raised its stake in NIKE by 11.2% during the 3rd quarter. Disciplined Investors L.L.C. now owns 24,900 shares of the footwear maker’s stock worth $881,000 after buying an additional 2,500 shares during the period. Benjamin Edwards Inc. raised its stake in NIKE by 22.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 246,011 shares of the footwear maker’s stock worth $8,709,000 after buying an additional 45,184 shares during the period. First Trust Advisors LP raised its stake in NIKE by 39.2% during the 3rd quarter. First Trust Advisors LP now owns 3,534,693 shares of the footwear maker’s stock worth $125,128,000 after buying an additional 996,084 shares during the period. Finally, Hexagon Capital Partners LLC boosted its holdings in NIKE by 49.1% in the third quarter. Hexagon Capital Partners LLC now owns 10,131 shares of the footwear maker’s stock worth $359,000 after acquiring an additional 3,334 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Latest NIKE News

Here’s some of the latest news about NKE:

• Positive Sentiment: A bullish long-term view argues that NIKE is intentionally reducing supply of Dunk and Jordan retro styles and cutting discounted online sales in China. Though these moves weigh on revenue now, restoring operating margins to fiscal 2024 levels could support a recovery even without sales growth. Investors may look for evidence in the margin target expected November 17. Article: Nike Stock Is Down 78% From Its Peak. Here’s Why I’d Buy and Hold for a Decade.
• Neutral Sentiment: Analyst views are mixed, and Cantor Fitzgerald has begun coverage of NIKE. The provided reports do not specify Cantor’s rating or price target, leaving the overall analyst signal unclear. Article: Analysts’ Opinions Are Mixed on These Consumer Cyclical Stocks Article: Cantor Fitzgerald Begins Coverage on NIKE
• Negative Sentiment: NIKE’s shares are down nearly 40% year to date amid sluggish demand, weakness in China and pressure on margins. The planned sales pullbacks may help clear inventory and protect pricing, but are also costing revenue in the near term. Recent quarterly revenue was below analyst expectations and declined year over year, reinforcing concerns about the pace of recovery. Article: NIKE’s Shares Slide Nearly 40% YTD: Is a Rebound in Sight?

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.