NIKE (NYSE:NKE) Earns Buy Rating from Sanford C. Bernstein

Key Points

• NIKE's stock received a reaffirmed "buy" rating from Sanford C. Bernstein with a target price of $90.00, indicating a potential upside of 21.56% from the current stock price.
• The company's recent earnings report showed an EPS of $0.49, surpassing estimates, with quarterly revenue reaching $11.72 billion, a 1% increase year-over-year.
• Institutional investors hold 64.25% of NIKE's shares, with significant recent activity including new stakes from firms like Stone House Investment Management LLC and Mascoma Wealth Management LLC.

NIKE (NYSE:NKE - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Sanford C. Bernstein in a research report issued to clients and investors on Wednesday,MarketScreener Latest Ratings reports. They presently have a $90.00 price objective on the footwear maker's stock. Sanford C. Bernstein's price target would indicate a potential upside of 21.56% from the stock's current price.

A number of other research analysts have also recently issued reports on NKE. Truist Financial reaffirmed a "buy" rating and set a $85.00 price objective on shares of NIKE in a research report on Wednesday. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. TD Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating and boosted their price target for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. Wall Street Zen upgraded NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $75.00 price objective on shares of NIKE in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.26.

NIKE Stock Performance

Shares of NYSE:NKE traded up $4.31 during midday trading on Wednesday, reaching $74.04. The company had a trading volume of 51,310,909 shares, compared to its average volume of 16,382,513. NIKE has a 52-week low of $52.28 and a 52-week high of $85.23. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company's 50 day moving average price is $74.78 and its 200 day moving average price is $67.27. The stock has a market cap of $109.35 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.54 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the company earned $0.70 EPS. The firm's revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Stone House Investment Management LLC bought a new stake in NIKE in the 1st quarter valued at $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of NIKE during the second quarter worth $26,000. Halbert Hargrove Global Advisors LLC boosted its position in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after purchasing an additional 362 shares in the last quarter. Saudi Central Bank bought a new stake in shares of NIKE in the first quarter worth $30,000. Finally, Matrix Trust Co grew its stake in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after buying an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

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.

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