Sunday, September 20, 2020

NIKE Inc. [NKE] Stock trading around $112.85 per share: What’s Next?

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NIKE Inc. [NYSE: NKE] slipped around -3.95 points on Thursday, while shares priced at $112.85 at the close of the session, down -3.38%. The company report on August 27, 2020 that NIKE, Inc. Announces First Quarter Fiscal 2021 Earnings and Conference Call.

NIKE, Inc. (NYSE: NKE) plans to release its first quarter fiscal 2021 financial results on Tuesday, September 22, 2020, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results.

The conference call will be broadcast live over the Internet and can be accessed at http://investors.nike.com. For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, October 6, 2020.

NIKE Inc. stock is now 11.39% up from its year-to-date (YTD) trading value. NKE Stock saw the intraday high of $116.90 and lowest of $112.00 per share. The company’s 52-week high price is 117.41, which means current price is +88.08% above from all time high which was touched on 09/02/20.

Compared to the average trading volume of 6.32M shares, NKE reached a trading volume of 7240310 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about NIKE Inc. [NKE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NKE shares is $112.79 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NKE stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Susquehanna have made an estimate for NIKE Inc. shares, keeping their opinion on the stock as Positive, with their previous recommendation back on August 19, 2020. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $119 to $121. The new note on the price target was released on July 01, 2020, representing the official price target for NIKE Inc. stock. Previously, the target price had yet another raise from $99 to $110, while Wells Fargo kept a Overweight rating on NKE stock. On June 26, 2020, analysts increased their price target for NKE shares from 122 to 127.

The Average True Range (ATR) for NIKE Inc. is set at 2.24, with the Price to Sales ratio for NKE stock in the period of the last 12 months amounting to 4.65. The Price to Book ratio for the last quarter was 21.79, with the Price to Cash per share for the same quarter was set at 5.71.

How has NKE stock performed recently?

NIKE Inc. [NKE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.81. With this latest performance, NKE shares gained by 11.80% in over the last four-week period, additionally plugging by 27.72% over the last 6 months – not to mention a rise of 27.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NKE stock in for the last two-week period is set at 63.67, with the RSI for the last a single of trading hit 60.93, and the three-weeks RSI is set at 63.41 for NIKE Inc. [NKE]. The present Moving Average for the last 50 days of trading for this stock 102.33, while it was recorded at 113.73 for the last single week of trading, and 95.60 for the last 200 days.

NIKE Inc. [NKE]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and NIKE Inc. [NKE] shares currently have an operating margin of +7.40 and a Gross Margin at +42.47. NIKE Inc.’s Net Margin is presently recorded at +6.79.

Return on Total Capital for NKE is now 16.49, given the latest momentum, and Return on Invested Capital for the company is 15.44. Return on Equity for this stock inclined to 29.70, with Return on Assets sitting at 9.22. When it comes to the capital structure of this company, NIKE Inc. [NKE] has a Total Debt to Total Equity ratio set at 161.58. Additionally, NKE Total Debt to Total Capital is recorded at 61.77, with Total Debt to Total Assets ending up at 41.53. Long-Term Debt to Equity for the company is recorded at 152.94, with the Long-Term Debt to Total Capital now at 58.47.

Receivables Turnover for the company is 10.65 with a Total Asset Turnover recorded at a value of 1.36.NIKE Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.50.

Earnings analysis for NIKE Inc. [NKE]

With the latest financial reports released by the company, NIKE Inc. posted 0.86/share EPS, while the average EPS was predicted by analysts to be reported at 0.7/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 22.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NKE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NIKE Inc. go to 23.64%.

Insider trade positions for NIKE Inc. [NKE]

There are presently around $115,397 million, or 84.10% of NKE stock, in the hands of institutional investors. The top three institutional holders of NKE stocks are: VANGUARD GROUP INC with ownership of 105,170,585, which is approximately -3.661% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 95,685,586 shares of the stock with an approximate value of $10.8 billion in NKE stocks shares; and STATE STREET CORP, currently with $6.68 billion in NKE stock with ownership of nearly 0.918% of the company’s market capitalization.

Positions in NIKE Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 998 institutional holders increased their position in NIKE Inc. [NYSE:NKE] by around 59,519,912 shares. Additionally, 791 investors decreased positions by around 58,995,039 shares, while 210 investors held positions by with 904,058,075 shares. The mentioned changes placed institutional holdings at 1,022,573,026 shares, according to the latest SEC report filing. NKE stock had 190 new institutional investments in for a total of 3,741,885 shares, while 97 institutional investors sold positions of 4,979,446 shares during the same period.

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