NIKE (NYSE:NKE) Lowered to "Hold" Rating by Wells Fargo & Company

NIKE (NYSE:NKE - Get Free Report) was downgraded by investment analysts at Wells Fargo & Company from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Friday,Zacks.com reports.

Several other research analysts have also weighed in on NKE. Weiss Ratings lowered shares of NIKE from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $54.00 to $51.00 and set a "hold" rating on the stock in a report on Wednesday, April 1st. Wall Street Zen lowered NIKE from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. UBS Group decreased their target price on NIKE from $58.00 to $54.00 and set a "neutral" rating on the stock in a report on Wednesday, April 1st. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $52.00 target price (down from $76.00) on shares of NIKE in a report on Wednesday, April 1st. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of "Hold" and an average target price of $62.04.

NIKE Stock Down 0.7%

NIKE stock opened at $44.10 on Friday. The firm has a market capitalization of $65.31 billion, a PE ratio of 29.21, a P/E/G ratio of 2.36 and a beta of 1.12. The company's 50-day moving average is $50.16 and its 200-day moving average is $59.14. NIKE has a fifty-two week low of $42.09 and a fifty-two week high of $80.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. NIKE's revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. Sell-side analysts anticipate that NIKE will post 1.51 earnings per share for the current year.

Insider Transactions at NIKE

In other news, CEO Elliott Hill acquired 23,660 shares of the firm's stock in a transaction on Monday, April 13th. The shares were purchased at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the acquisition, the chief executive officer directly owned 265,247 shares in the company, valued at $11,211,990.69. This represents a 9.79% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. acquired 4,000 shares of the firm's stock in a transaction on Thursday, April 9th. The stock was purchased at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the acquisition, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. This represents a 10.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 64,441 shares of company stock valued at $2,734,204. Corporate insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Scarborough Advisors LLC acquired a new position in shares of NIKE during the 1st quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new position in shares of NIKE during the 4th quarter worth approximately $26,000. Sankala Group LLC acquired a new position in shares of NIKE during the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. grew its position in shares of NIKE by 108.4% during 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. Finally, J.Safra Asset Management Corp acquired a new position in shares of NIKE during the 4th quarter worth approximately $29,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Negative Sentiment: Wells Fargo downgraded NIKE to Equal Weight from Overweight and cut its price target to $45 from $55, saying a GLP-1-driven shift in consumer behavior could become a new headwind for athletic wear demand. Article Title
• Negative Sentiment: Reuters reported that bets against NIKE have surged, adding to pressure on CEO Elliott Hill to stabilize performance and restore investor confidence. Article Title
• Negative Sentiment: NIKE is also facing ongoing scrutiny over weak earnings, revenue pressure, and restructuring costs as it moves ahead with nearly 1,400 job cuts tied to its “Win Now” overhaul. Article Title
• Neutral Sentiment: NIKE’s board declared a quarterly dividend of $0.41 per share, which supports the company’s shareholder-return story but does not offset the broader concerns around growth and execution. Article Title
• Neutral Sentiment: Several articles note increased investor attention and valuation-reset chatter, but these appear to be more reflective of market interest than a clear fundamental catalyst. Article Title

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.