KGI Securities Lowers NIKE (NYSE:NKE) to Neutral

NIKE (NYSE:NKEGet Rating) was downgraded by equities researchers at KGI Securities from an “outperform” rating to a “neutral” rating in a research note issued on Monday, The Fly reports.

Several other research firms have also commented on NKE. Cowen dropped their target price on NIKE from $192.00 to $144.00 and set an “outperform” rating on the stock in a report on Tuesday, March 8th. Stifel Nicolaus dropped their target price on shares of NIKE from $202.00 to $160.00 in a research report on Thursday, March 17th. Credit Suisse Group set a $165.00 price target on shares of NIKE in a research note on Friday, April 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of NIKE from $173.00 to $175.00 in a research note on Tuesday, March 22nd. Finally, Truist Financial increased their price target on shares of NIKE from $164.00 to $176.00 in a report on Tuesday, March 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $171.52.

NYSE:NKE traded up $0.63 during trading hours on Monday, hitting $108.63. 7,135,593 shares of the stock were exchanged, compared to its average volume of 7,145,987. The company has a market cap of $170.96 billion, a P/E ratio of 28.66, a P/E/G ratio of 2.05 and a beta of 0.95. The firm’s fifty day moving average price is $125.28 and its 200 day moving average price is $143.75. The company has a current ratio of 3.06, a quick ratio of 2.18 and a debt-to-equity ratio of 0.64. NIKE has a 52-week low of $105.00 and a 52-week high of $179.10.

NIKE (NYSE:NKEGet Rating) last announced its earnings results on Monday, March 21st. The footwear maker reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. NIKE had a net margin of 13.06% and a return on equity of 43.04%. The business had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.61 billion. During the same quarter last year, the company posted $0.90 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts expect that NIKE will post 3.71 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Advisory Services Network LLC increased its holdings in NIKE by 14.0% during the 1st quarter. Advisory Services Network LLC now owns 49,484 shares of the footwear maker’s stock worth $6,656,000 after acquiring an additional 6,064 shares during the period. Neuberger Berman Group LLC increased its position in NIKE by 6.3% in the first quarter. Neuberger Berman Group LLC now owns 1,613,384 shares of the footwear maker’s stock worth $217,163,000 after purchasing an additional 96,041 shares during the last quarter. Cornerstone Advisory LLC grew its holdings in shares of NIKE by 47.1% in the first quarter. Cornerstone Advisory LLC now owns 14,859 shares of the footwear maker’s stock worth $1,999,000 after purchasing an additional 4,757 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of NIKE by 2.0% during the first quarter. EP Wealth Advisors LLC now owns 27,990 shares of the footwear maker’s stock valued at $3,766,000 after buying an additional 551 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of NIKE by 1.5% during the first quarter. The Manufacturers Life Insurance Company now owns 1,083,596 shares of the footwear maker’s stock valued at $146,280,000 after acquiring an additional 16,195 shares in the last quarter. Hedge funds and other institutional investors own 65.35% of the company’s stock.

NIKE Company Profile (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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