NIKE (NYSE:NKE) Given Neutral Rating at JPMorgan Chase & Co.

Key Points

• JPMorgan reissued a "neutral" rating on Nike, joining several firms that have cut price targets or downgraded the stock; analyst consensus is split (17 Buy, 17 Hold, 2 Sell) with an average target of $62.34.
• Nike shares opened near $42.39, just above the 52-week low (~$42.09) and down about 0.5%, while two directors purchased stock at roughly $42–$43 per share, signaling insider buying.
• Nike's latest quarter showed a mixed beat—EPS of $0.35 vs. $0.29 expected and revenue of $11.28B (+0.1% YoY)—but profitability remains modest (net margin ~4.84%).

NIKE (NYSE:NKE - Get Free Report)'s stock had its "neutral" rating reissued by investment analysts at JPMorgan Chase & Co. in a research note issued to investors on Monday,MarketScreener reports.

Several other research firms also recently commented on NKE. Weiss Ratings downgraded NIKE from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, April 6th. Bank of America restated a "neutral" rating and set a $55.00 price objective (down from $73.00) on shares of NIKE in a report on Wednesday, April 1st. Evercore decreased their price objective on NIKE from $69.00 to $57.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. HSBC downgraded NIKE from a "buy" rating to a "hold" rating and set a $48.00 price objective for the company. in a report on Monday. Finally, Williams Trading decreased their price objective on NIKE from $80.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. Seventeen analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $62.34.

NIKE Trading Down 0.5%

NYSE NKE opened at $42.39 on Monday. The company has a market cap of $62.76 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 2.25 and a beta of 1.31. NIKE has a 52 week low of $42.09 and a 52 week high of $80.17. The business has a 50 day moving average price of $56.46 and a 200-day moving average price of $62.07. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 earnings per share. As a group, equities analysts expect that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 4,000 shares of the business's stock in a transaction on Thursday, April 9th. The shares were acquired at an average price of $43.34 per share, with a total value of $173,360.00. Following the completion of the transaction, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert Holmes Swan acquired 11,781 shares of the business's stock in a transaction on Tuesday, April 7th. The stock was acquired at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the transaction, the director owned 55,074 shares of the company's stock, valued at approximately $2,337,340.56. The trade was a 27.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cornerstone Financial Management LLC purchased a new position in NIKE in the fourth quarter worth $26,000. Sankala Group LLC purchased a new position in shares of NIKE during the 4th quarter valued at $26,000. J.Safra Asset Management Corp purchased a new position in shares of NIKE during the 4th quarter valued at $29,000. Kemnay Advisory Services Inc. purchased a new position in shares of NIKE during the 4th quarter valued at $30,000. Finally, Guerra Advisors Inc purchased a new position in shares of NIKE during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Company Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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