NIKE (NYSE:NKE) Raised to "Buy" at HSBC

NIKE (NYSE:NKE - Get Free Report) was upgraded by equities researchers at HSBC from a "hold" rating to a "buy" rating in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage presently has a $80.00 price objective on the footwear maker's stock. HSBC's target price suggests a potential upside of 27.58% from the company's previous close.

A number of other equities analysts have also issued reports on NKE. Piper Sandler reduced their target price on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Williams Trading decreased their target price on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Wells Fargo & Company raised their price target on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Finally, BMO Capital Markets decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and an average price target of $77.67.

NIKE Price Performance

Shares of NYSE NKE opened at $62.71 on Friday. NIKE has a fifty-two week low of $52.28 and a fifty-two week high of $94.74. The company has a market cap of $92.75 billion, a PE ratio of 20.83, a P/E/G ratio of 2.23 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. The business has a 50-day simple moving average of $60.31 and a two-hundred day simple moving average of $67.63.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. NIKE's revenue was down 11.9% compared to the same quarter last year. As a group, equities analysts expect that NIKE will post 2.05 EPS for the current fiscal year.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On NIKE

Several large investors have recently bought and sold shares of the company. AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of NIKE in the first quarter valued at approximately $2,645,000. Swedbank AB raised its stake in NIKE by 2.8% in the 1st quarter. Swedbank AB now owns 953,011 shares of the footwear maker's stock valued at $60,497,000 after purchasing an additional 26,026 shares during the last quarter. Voya Investment Management LLC lifted its holdings in NIKE by 1.8% in the 1st quarter. Voya Investment Management LLC now owns 1,453,473 shares of the footwear maker's stock valued at $92,266,000 after purchasing an additional 25,481 shares in the last quarter. BROOKFIELD Corp ON boosted its stake in NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock worth $41,808,000 after purchasing an additional 175,000 shares during the last quarter. Finally, eCIO Inc. purchased a new stake in shares of NIKE during the first quarter worth $52,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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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