NIKE (NYSE:NKE) Upgraded at Wall Street Zen

NIKE (NYSE:NKE) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also recently weighed in on NKE. Sanford C. Bernstein reissued an “outperform” rating on shares of NIKE in a research report on Monday, August 18th. UBS Group began coverage on shares of NIKE in a research report on Sunday, July 6th. They issued a “buy” rating for the company. Barclays boosted their price target on shares of NIKE from $53.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, June 27th. Truist Financial reduced their price target on shares of NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, June 24th. Finally, Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.22.

NIKE Stock Performance

Shares of NKE stock opened at $73.91 on Friday. 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 firm has a fifty day moving average price of $75.48 and a 200 day moving average price of $67.97. The company has a market cap of $109.16 billion, a P/E ratio of 34.22, a PEG ratio of 2.74 and a beta of 1.24. NIKE has a 12 month low of $52.28 and a 12 month high of $90.62.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the previous year, the company earned $0.99 earnings per share. NIKE’s quarterly revenue was down 11.9% compared to the same quarter last year. Sell-side analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated 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 completion of the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in NIKE by 1.0% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after purchasing an additional 134 shares in the last quarter. Main Street Financial Solutions LLC raised its holdings in NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after purchasing an additional 139 shares in the last quarter. Caldwell Sutter Capital Inc. raised its holdings in NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after purchasing an additional 142 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in NIKE by 10.1% during the second quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after purchasing an additional 145 shares in the last quarter. Finally, Westmount Partners LLC grew its position in NIKE by 2.9% during the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after buying an additional 146 shares during the period. 64.25% of the stock is 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.