NIKE, Inc. (NYSE:NKE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

NIKE, Inc. (NYSE:NKE) has earned an average rating of “Moderate Buy” from the twenty-nine ratings firms that are currently covering the stock, Marketbeat.com reports. Thirteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $96.56.

Several equities analysts have recently weighed in on NKE shares. UBS Group raised their price objective on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America decreased their price target on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Robert W. Baird increased their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. cut their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Finally, Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and increased their price target for the company from $83.00 to $97.00 in a research report on Thursday, October 10th.

NIKE Price Performance

Shares of NYSE:NKE opened at $78.06 on Friday. The stock has a market cap of $117.04 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The stock’s 50 day moving average price is $82.12 and its 200 day moving average price is $84.51.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the business earned $0.94 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. Equities research analysts anticipate that NIKE will post 2.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Annapolis Financial Services LLC boosted its holdings in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. Transcendent Capital Group LLC grew its holdings in NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares during the last quarter. VitalStone Financial LLC increased its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in shares of NIKE in the second quarter valued at approximately $44,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

About NIKE

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.