StockNews.com Lowers NIKE (NYSE:NKE) to Hold

NIKE (NYSE:NKEGet Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Other research analysts have also issued reports about the company. Barclays cut their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Piper Sandler reduced their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and issued a $111.00 price objective on shares of NIKE in a report on Tuesday, March 19th. Oppenheimer cut shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price for the company. in a report on Friday, February 16th. Finally, Williams Trading reaffirmed a “sell” rating and issued a $85.00 price target (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

Get Our Latest Analysis on NIKE

NIKE Stock Up 1.5 %

NYSE:NKE opened at $95.72 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE has a 1-year low of $88.66 and a 1-year high of $123.39. The company has a 50-day moving average of $92.66 and a 200 day moving average of $101.10. The firm has a market cap of $144.48 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 1.73 and a beta of 1.05.

NIKE (NYSE:NKEGet Free Report) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. As a group, research analysts anticipate that NIKE will post 3.73 EPS for the current fiscal year.

Insider Activity at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Johanna Nielsen sold 282 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several hedge funds have recently added to or reduced their stakes in NKE. Portland Hill Asset Management Ltd bought a new position in NIKE in the first quarter valued at about $958,000. Soltis Investment Advisors LLC raised its position in NIKE by 62.6% in the first quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock valued at $2,675,000 after purchasing an additional 10,958 shares during the last quarter. Cetera Advisors LLC raised its position in NIKE by 85.5% in the first quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after purchasing an additional 40,704 shares during the last quarter. Cetera Investment Advisers raised its position in NIKE by 144.5% in the first quarter. Cetera Investment Advisers now owns 215,631 shares of the footwear maker’s stock valued at $20,265,000 after purchasing an additional 127,449 shares during the last quarter. Finally, Invst LLC raised its position in NIKE by 38.4% in the first quarter. Invst LLC now owns 17,425 shares of the footwear maker’s stock valued at $1,613,000 after purchasing an additional 4,835 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Company Profile

(Get Free Report)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.

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Analyst Recommendations for NIKE (NYSE:NKE)

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