NIKE's (NKE) Buy Rating Reiterated at BTIG Research

Key Points

• BTIG Research reiterated its Buy rating on NIKE and set a $50 price target, implying 32.51% upside from the current price.
• Analyst sentiment overall is more cautious: MarketBeat reports a consensus “Reduce” rating and an average price target of $40.83, with 21 Hold and 12 Sell ratings among analysts.
• NIKE beat quarterly EPS estimates, reporting $0.48 versus $0.43 expected, but revenue of $11.21 billion came in below forecasts and declined 4.3% year over year.

NIKE (NYSE:NKE - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at BTIG Research in a research note issued to investors on Thursday, Benzinga reports. They currently have a $50.00 price target on the footwear maker's stock. BTIG Research's price objective points to a potential upside of 32.51% from the company's current price.

Several other research firms have also weighed in on NKE. KeyCorp reissued a "sector weight" rating on shares of NIKE in a research report on Wednesday. Weiss Ratings lowered NIKE from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, October 6th. Jefferies Financial Group set a $60.00 target price on NIKE in a research note on Friday, October 2nd. Raymond James Financial reaffirmed a "market perform" rating on shares of NIKE in a research note on Tuesday, September 29th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $45.00 target price on shares of NIKE in a 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 assigned a Hold rating and twelve have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $40.83.

NIKE Stock Down 1.5%

Shares of NKE opened at $37.73 on Thursday. The company has a market capitalization of $56.04 billion, a PE ratio of 18.14, a PEG ratio of 4.39 and a beta of 1.01. NIKE has a 12 month low of $31.97 and a 12 month high of $69.14. The stock's 50-day moving average price is $36.90 and its two-hundred day moving average price is $45.10. The company has a current ratio of 2.07, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, October 1st. The footwear maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.43 by $0.05. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The business had revenue of $11.21 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The firm's revenue was down 4.3% on a year-over-year basis. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. On average, analysts anticipate that NIKE will post 1.24 EPS for the current year.

Insider Transactions at NIKE

In related news, EVP Philip McCartney sold 2,559 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 78,121 shares of the company's stock, valued at approximately $2,936,568.39. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $137,992.89. Following the sale, the chief operating officer owned 104,862 shares in the company, valued at approximately $3,941,762.58. The trade was a 3.38% 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 own 1.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC bought a new position in shares of NIKE in the first quarter valued at approximately $25,000. Meeder Asset Management Inc. lifted its stake in NIKE by 108.4% in the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker's stock worth $29,000 after purchasing an additional 285 shares in the last quarter. Atlas Wealth LLC purchased a new stake in NIKE in the 1st quarter worth approximately $31,000. Main Street Group LTD bought a new position in NIKE in the 1st quarter valued at $36,000. Finally, Reyes Financial Architecture Inc. bought a new position in NIKE in the 3rd quarter valued at $26,000. Institutional investors own 64.25% of the company's stock.

About NIKE

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.

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