NIKE (NYSE:NKE) Receives Market Perform Rating from Telsey Advisory Group

NIKE (NYSE:NKE)‘s stock had its “market perform” rating reissued by stock analysts at Telsey Advisory Group in a research note issued to investors on Friday,Benzinga reports. They presently have a $70.00 price target on the footwear maker’s stock. Telsey Advisory Group’s price target would suggest a potential downside of 2.90% from the stock’s current price. Telsey Advisory Group also issued estimates for NIKE’s FY2027 earnings at $2.50 EPS.

Several other brokerages have also issued reports on NKE. Cfra Research raised NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Berenberg Bank started coverage on NIKE in a research note on Tuesday, April 15th. They set a “hold” rating and a $58.00 price target for the company. Evercore ISI dropped their price target on NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. JPMorgan Chase & Co. dropped their price target on NIKE from $64.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, June 20th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.00.

NIKE Price Performance

NYSE:NKE opened at $72.09 on Friday. The firm has a market capitalization of $106.63 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 2.64 and a beta of 1.21. NIKE has a 52-week low of $52.28 and a 52-week high of $90.62. The stock has a fifty day moving average of $60.63 and a 200 day moving average of $67.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.00% and a net margin of 6.95%. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. The company’s revenue was down 11.9% compared to the same quarter last year. On average, research analysts expect that NIKE will post 2.05 EPS for the current fiscal year.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NKE. Brighton Jones LLC grew its holdings in shares of NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in shares of NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock worth $14,447,000 after acquiring an additional 17,888 shares during the period. IFP Advisors Inc grew its holdings in shares of NIKE by 17.9% during the 4th quarter. IFP Advisors Inc now owns 11,806 shares of the footwear maker’s stock worth $894,000 after acquiring an additional 1,789 shares during the period. Nwam LLC grew its holdings in shares of NIKE by 2.9% during the 4th quarter. Nwam LLC now owns 6,318 shares of the footwear maker’s stock worth $478,000 after acquiring an additional 176 shares during the period. Finally, Kovack Advisors Inc. grew its holdings in shares of NIKE by 20.3% during the 4th quarter. Kovack Advisors Inc. now owns 8,323 shares of the footwear maker’s stock worth $630,000 after acquiring an additional 1,403 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

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.