NIKE (NYSE:NKE) Raised to Hold at Benchmark

NIKE (NYSE:NKE) was upgraded by Benchmark to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

NKE has been the subject of several other reports. Rothschild & Co Redburn decreased their price target on shares of NIKE from $45.00 to $37.00 and set a “sell” rating for the company in a research report on Friday, July 17th. Robert W. Baird set a $44.00 price target on shares of NIKE and gave the stock a “neutral” rating in a report on Monday, September 14th. Barclays reiterated an “overweight” rating and set a $48.00 price objective (down from $52.00) on shares of NIKE in a report on Wednesday. Citigroup downgraded NIKE from a “neutral” rating to a “negative” rating in a research note on Monday, September 14th. Finally, Telsey Advisory Group set a $44.00 target price on NIKE and gave the company a “market perform” rating in a research report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty-two have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.41.

NIKE Price Performance

NKE opened at $35.95 on Tuesday. The company has a market capitalization of $53.33 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.84 and a beta of 1.10. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. NIKE has a 12-month low of $35.35 and a 12-month high of $76.97. The business’s fifty day simple moving average is $39.91 and its 200-day simple moving average is $43.78.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. NIKE’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, equities research analysts anticipate that NIKE will post 1.67 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In related news, insider Amy Montagne sold 4,867 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $42.05, for a total value of $204,657.35. Following the transaction, the insider owned 57,436 shares in the company, valued at approximately $2,415,183.80. This represents a 7.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Philip McCartney sold 2,559 shares of the firm’s 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 $96,192.81. Following the transaction, the executive vice president directly owned 78,121 shares of the company’s stock, valued at $2,936,568.39. This represents a 3.17% decrease in their ownership of the stock. 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. Insiders have sold a total of 14,974 shares of company stock worth $600,126 in the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On NIKE

Several hedge funds have recently added to or reduced their stakes in NKE. QRG Capital Management Inc. raised its position in NIKE by 8.5% during the second quarter. QRG Capital Management Inc. now owns 106,883 shares of the footwear maker’s stock valued at $4,388,000 after acquiring an additional 8,338 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in NIKE by 214.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 32,596 shares of the footwear maker’s stock worth $1,338,000 after purchasing an additional 22,215 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in NIKE by 98.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,202,581 shares of the footwear maker’s stock worth $90,416,000 after purchasing an additional 1,092,282 shares in the last quarter. State Street Corp grew its stake in shares of NIKE by 6.8% during the 2nd quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock worth $2,636,104,000 after purchasing an additional 4,052,428 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of NIKE by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 640,889 shares of the footwear maker’s stock worth $26,308,000 after purchasing an additional 11,884 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: BTIG reaffirmed its Buy rating and set a $55 price target, implying substantial upside from recent trading levels. BTIG rating and Nike earnings preview
• Positive Sentiment: JD Sports’ finance chief said Nike remains a very strong brand and that its turnaround is likely a matter of time. The comments support confidence in Nike’s wholesale relationships and brand strength. JD Sports comments on Nike turnaround
• Positive Sentiment: Nike enters the earnings period with potential support from its prior earnings beat: the company exceeded consensus EPS and revenue expectations in its latest reported quarter. Investors are watching for further margin improvement and stronger performance categories.
• Neutral Sentiment: Analysts and investors are focused on channel inventory, promotional activity, wholesale sell-through, and whether Nike can rebuild demand without relying heavily on discounts. Nike athletic-apparel market analysis
• Neutral Sentiment: Nike’s low valuation and depressed share price may attract long-term investors, but the stock’s recovery depends on proving that gross margins and earnings estimates have bottomed. Nike gross-margin and earnings outlook
• Negative Sentiment: Barclays lowered its price target to $48 ahead of earnings, while Stifel reportedly cut its target to $40. The reductions reflect concerns that weak lifestyle demand could offset progress in performance products and margins. Barclays cuts Nike price target
• Negative Sentiment: Commentary indicates that accelerating growth may take longer than expected, keeping earnings estimates and investor confidence constrained. Nike growth outlook
• Negative Sentiment: Adidas is currently showing stronger sales momentum and faster direct-to-consumer growth, increasing competitive pressure on Nike. Nike versus Adidas comparison
• Negative Sentiment: Nike-owned Converse pulled an advertisement after backlash over alleged KKK imagery, creating a reputational risk, although the issue is separate from Nike’s core operating outlook. Converse advertisement controversy

NIKE Company Profile

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.