NIKE (NYSE:NKE) Downgraded by Evercore to “Hold”

NIKE (NYSE:NKE) was downgraded by stock analysts at Evercore from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the company. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Jefferies Financial Group cut their target price on shares of NIKE from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. DA Davidson lowered shares of NIKE from a “buy” rating to a “neutral” rating and reduced their target price for the company from $72.00 to $46.00 in a research note on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of NIKE from $54.00 to $51.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Finally, UBS Group set a $50.00 price target on shares of NIKE and gave the stock a “neutral” rating in a research note on Wednesday, June 10th. Fourteen investment 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.01.

NIKE Stock Down 1.6%

NYSE NKE opened at $42.49 on Tuesday. The stock has a fifty day moving average of $44.38 and a 200-day moving average of $54.40. The stock has a market capitalization of $62.92 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12. NIKE has a 52 week low of $41.35 and a 52 week high of $80.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts forecast that NIKE will post 1.49 EPS for the current year.

Insiders Place Their Bets

In other NIKE news, CEO Elliott Hill bought 23,660 shares of NIKE stock in a transaction on Monday, April 13th. The shares were purchased at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer owned 265,247 shares in the company, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Holmes Swan bought 11,781 shares of the firm’s stock in a transaction on Tuesday, April 7th. The stock was acquired at an average cost of $42.44 per share, with a total value of $499,985.64. Following the completion of the purchase, the director owned 55,074 shares of the company’s stock, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 64,441 shares of company stock worth $2,734,204 over the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NIKE

A number of hedge funds have recently modified their holdings of NKE. Westerkirk Capital Inc. lifted its stake in NIKE by 52.4% during the fourth quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker’s stock worth $8,360,000 after purchasing an additional 45,100 shares during the last quarter. Mizuho Markets Cayman LP bought a new position in shares of NIKE in the 3rd quarter valued at $34,200,000. OMERS ADMINISTRATION Corp increased its stake in shares of NIKE by 77.9% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker’s stock valued at $160,943,000 after purchasing an additional 1,106,499 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of NIKE in the 4th quarter valued at $43,188,000. Finally, Strive Asset Management LLC acquired a new position in shares of NIKE during the 3rd quarter worth $1,743,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE named Pfizer executive David M. Denton as its next Chief Financial Officer, a leadership change that some investors view as a constructive step for the company’s turnaround and financial execution. Reuters: Nike names Pfizer executive David Denton as CFO amid slow turnaround effort
• Positive Sentiment: NIKE also reaffirmed its fourth-quarter outlook, signaling that results remain on track ahead of its June 30 earnings report and easing some near-term uncertainty. BusinessWire: NIKE, Inc. Announces Planned CFO Transition
• Neutral Sentiment: Investors are watching the company’s upcoming investor update and earnings release closely, with analysts expecting weak quarterly profit and modest revenue growth as NIKE works to stabilize its business. Benzinga: Nike Likely To Report Lower Q4 Earnings
• Negative Sentiment: Evercore ISI downgraded NIKE and lowered its price target, citing channel weakness, Jordan brand softness, and supply delays in Europe, reinforcing concerns that the turnaround is taking longer than hoped. TipRanks: Nike Stock Slides as Analyst Flags Minimal Needle-Moving Innovation
• Negative Sentiment: Other analyst commentary has also stayed cautious, with BNP Paribas Exane reaffirming an underperform rating, suggesting sentiment remains weak despite the CFO announcement. Benzinga: NIKE underperform rating reaffirmed

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).