BNP Paribas Exane Reiterates “Underperform” Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE)‘s stock had its “underperform” rating restated by stock analysts at BNP Paribas Exane in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $23.00 price objective on the footwear maker’s stock. BNP Paribas Exane’s price target suggests a potential downside of 46.40% from the stock’s current price.

Several other brokerages have also recently weighed in on NKE. DZ Bank reiterated a “buy” rating on shares of NIKE in a research report on Tuesday, April 21st. Sanford C. Bernstein reaffirmed a “buy” rating on shares of NIKE in a research note on Monday, May 11th. China Renaissance decreased their target price on shares of NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a report on Thursday, April 2nd. Weiss Ratings lowered shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. Finally, Berenberg Bank reiterated a “neutral” rating on shares of NIKE in a research note on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.01.

NIKE Stock Performance

Shares of NIKE stock traded down $0.28 during trading hours on Tuesday, reaching $42.91. The company had a trading volume of 14,583,562 shares, compared to its average volume of 19,852,213. The firm has a market cap of $63.54 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. NIKE has a one year low of $41.35 and a one year 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. The business has a fifty day simple moving average of $44.38 and a 200 day simple moving average of $54.56.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.41% and a net margin of 4.84%.The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. On average, analysts anticipate that NIKE will post 1.49 earnings per share for the current fiscal year.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. purchased 4,000 shares of NIKE stock in a transaction that occurred on Thursday, April 9th. The shares were bought at an average cost of $43.34 per share, with a total value of $173,360.00. Following the completion of the purchase, the director directly 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 can be accessed through this hyperlink. Also, Director Robert Holmes Swan bought 11,781 shares of NIKE stock in a transaction dated 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 completion of the transaction, the director directly owned 55,074 shares in the company, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 64,441 shares of company stock valued at $2,734,204 over the last 90 days. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently made changes to their positions in the business. J. Stern & Co. LLP increased its holdings in shares of NIKE by 49,010.4% during the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after acquiring an additional 47,956,692 shares in the last quarter. Norges Bank purchased a new stake in NIKE during the 4th quarter valued at $829,956,000. Harris Associates L P purchased a new stake in NIKE during the second quarter valued at $621,525,000. Capital World Investors lifted its holdings in NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares during the period. Finally, Jasper Ridge Partners L.P. boosted its position in NIKE by 2,492.4% in the fourth quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker’s stock worth $311,111,000 after purchasing an additional 4,694,859 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Some investors see the setup for Nike’s upcoming quarter as “better than feared,” with the stock discussed as a possible value opportunity ahead of earnings. Nike Q4 Preview: The Better-Than-Feared Value Opportunity
• Positive Sentiment: Nike continues to push its direct-to-consumer strategy through apps, exclusive launches, and member engagement, which could support longer-term growth if execution improves. NIKE’s DTC Strategy: Catalyst for Sustainable Growth or Margin Risk?
• Neutral Sentiment: NIKE will report fiscal fourth-quarter earnings on June 30, and analysts are preparing for lower profits, with forecasts centered on about $0.12 per share and $10.85 billion in revenue. Nike Likely To Report Lower Q4 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Neutral Sentiment: There was also a governance update, as longtime director John Rogers, Jr. plans to retire from the board after the September annual meeting but remain a strategic advisor. Does John Rogers’ Board Exit Reframe Nike’s (NKE) Turnaround and Brand Strategy Priorities?
• Negative Sentiment: CEO Elliott Hill recently said Nike’s turnaround is taking longer than expected, citing tariffs, weak demand, and global gaps that are still weighing on growth. Nike CEO Elliott Hill Admits Turnaround Is Taking Longer Than Expected
• Negative Sentiment: Evercore’s downgrade and reduced price target reinforce concerns that Nike’s recovery is slower than hoped, with near-term fundamentals still challenged. Nike (NKE) Stock Falls as Evercore Sounds Alarm on Deepening Challenges

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).